The media enterprise associated with U.S. President Donald Trump, Trump Media (DJT), is pursuing a collaboration with crypto exchange Crypto.com to introduce a variety of exchange-traded products (ETPs) and funds (ETFs), as announced on Monday.
According to the announcement, these ETPs will comprise crypto assets alongside securities from other industries, including energy. Crypto.com will contribute the backend technology, custody services, and a supply of cryptocurrencies.
The investment products are slated for a 2025 launch, as detailed in the release.
Trump Media is also the creator of Truth Social, the social networking site often utilized by Trump.
This initiative marks the latest in a series of cryptocurrency projects sponsored by the President and his family. They have launched multiple NFT collections, memecoins, and even a decentralized finance protocol known as World Liberty Financial (WLFI).
Since the announcement, DJT stock has risen by more than 9% in after-hours trading.