Trump Media Partners Crypto.com for Global ETF Launch

Trump Media, the parent company of Truth Social, has announced a strategic partnership with Crypto.com to introduce a range of Exchange-Traded Funds (ETFs) and Exchange-Traded Products (ETPs). These financial instruments will encompass digital assets such as Bitcoin (BTC) and Crypto.com Coin (CRO), as well as securities focused on key American industries, including energy. The launch is anticipated for later this year, subject to regulatory approval.

Crypto.com will be responsible for providing the necessary backend technology, custody solutions, and crypto supply for these new financial products. This collaboration marks the latest in a series of crypto initiatives backed by former U.S. President Donald Trump and his family. Previous ventures include the release of several Non-Fungible Token (NFT) collections, memecoins, and their own decentralized finance (DeFi) protocol, World Liberty Financial (WLFI).

The ETFs and ETPs are expected to be available globally, including in the U.S., Europe, and Asia, through existing platforms and brokerages. TMTG CEO Devin Nunes expressed enthusiasm about the partnership, highlighting the focus on supporting American businesses, innovative technologies, and crypto ventures. These funds are designed to bolster the U.S. economy without being influenced by political agendas.

Kris Marszalek, co-founder and CEO of Crypto.com, also expressed pride in the partnership and excitement about supporting the launch of these new ETFs, which include a unique basket of tokens featuring CRO. The ETFs will be launched alongside Truth.Fi Separately Managed Accounts (SMAs). Both the ETFs and SMAs are part of TMTG’s broader financial services and FinTech strategy. TMTG plans to invest up to $250 million in these products, which will be managed by Charles Schwab.

This collaboration between Trump Media and Crypto.com represents a significant step in the integration of digital assets into traditional financial products. By leveraging Crypto.com's expertise in blockchain technology and TMTG's influence in the media and political spheres, the partnership aims to create investment opportunities that align with both technological innovation and economic growth. The launch of these ETFs and ETPs is expected to provide investors with diversified exposure to digital assets and key American industries, further expanding the reach and accessibility of crypto investments.