Trump Media & Technology Group announced on Monday a strategic partnership with Crypto.com aimed at developing exchange-traded funds (ETFs) and other financial products under its Truth.Fi brand.
President Donald Trump’s media entity will work with Crypto.com’s broker-dealer, Foris Capital, to introduce these ETFs, which are set to focus on digital assets and securities with a distinctly “Made in America” vision across various sectors, including energy.
Additionally, the ETF offerings are anticipated to encompass a selection of cryptocurrencies, including bitcoin, presenting a unique basket of digital assets. Crypto.com will provide the backend technological support and custody services, as well as oversee the cryptocurrency supply associated with these funds.
Pending regulatory approval, the companies plan to roll out the ETFs later this year, making them accessible internationally across existing platforms and brokerages in regions including the U.S., Europe, and Asia.
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“Our goal is to create innovative funds that include companies focused on rapid growth, technological advancements, and the enhancement of the U.S. economy, free from political correctness and ideological constraints,” stated TMTG CEO Devin Nunes. “Investors will finally have the opportunity to choose funds that align with their values and support prosperous U.S. enterprises concentrated on their primary business activities.”
Kris Marszalek, co-founder and CEO of Crypto.com, highlighted that the offerings will include a “first-of-its-kind basket of tokens, including CRO,” emphasizing that they will provide a broader range of options for investors in the marketplace.
“These ETFs will present consumers with additional choices from a trusted brand. Once launched, they will be accessible on the Crypto.com app for our more than 140 million global users,” he noted.
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The planned ETF launch is expected to coincide with Trump Media’s rollout of a suite of Truth.Fi separately managed accounts (SMAs).
Trump Media intends to allocate up to $250 million from its cash reserves to invest in both the SMAs and ETFs, with custody services provided by Charles Schwab.
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Earlier this year, Trump Media applied to trademark six investment products designed to track bitcoin and sectors of U.S. manufacturing and energy. The trademarks include the Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF, and Truth.Fi U.S. Energy Independence ETF.
Reuters contributed to this report.
