- Trump Media has revealed that its fintech branch, Truth.Fi, has entered into a non-binding agreement to collaborate with Crypto.com.
- This partnership aims to enable Truth.Fi to launch its own exchange-traded funds (ETFs).
- The company intends to expand the availability of these products internationally, particularly in Europe and Asia.
On Monday, Trump Media and Technology Group (TMTG) shared that its fintech division, Truth.Fi, has signed a non-binding agreement with Crypto.com to develop a range of exchange-traded funds (ETFs).
Trump Media gearing up to introduce ‘Made in America’ ETF offerings
According to a recent announcement, TMTG, led by President Trump, is planning to unveil a series of ETFs in 2025.
The organization has formed a non-binding partnership with the cryptocurrency exchange Crypto.com to facilitate the issuance of these ETFs through its fintech brand, Truth.Fi.
The forthcoming ETFs will concentrate on cryptocurrencies and securities sourced from the US, which will be made accessible via Crypto.com’s broker-dealer, Foris Capital. Additionally, Crypto.com is set to serve as the primary token supplier for the cryptocurrency ETFs, featuring Bitcoin, Cronos, and other “Made in America” tokens.
“Our objective is to develop innovative funds that include companies focused on rapid growth, technological advancement, and bolstering the US economy, free from woke agendas and political theatrics,” stated TMTG CEO and Chairman Devin Nunes in the announcement.
Trump Media also indicated that the ETFs will be available on an international scale, especially in Europe and Asia, leveraging existing brokerage and investment platforms. Once launched, users of Crypto.com will have the ability to access the funds through its app, as noted by co-founder Kris Marszalek.
The products are expected to debut later this year, contingent on regulatory approval and a formal agreement between the involved parties. They are planned to be introduced alongside a series of Truth.Fi Separately Managed Accounts (SMAs), which will receive a funding allocation of up to $250 million from the company.
This initiative further establishes TMTG’s ambition to become a significant force in the digital asset sector and follows President Trump’s commitment to making America the leading hub for cryptocurrency.
Following this announcement, Cronos (CRO) saw a 13% increase in value.