Trump Media and Technology Group announced plans to partner with Crypto.com to launch an ETF series through TMTG’s Truth.Fi fintech brand — part of a previously announced financial services strategy that will involve custodying up to $250 million with Charles Schwab.
TMTG, which runs the Truth Social app founded by Donald Trump between his presidential terms, announced Monday it had signed a non-binding agreement with the crypto trading platform to introduce the ETFs via Crypto’s broker-dealer Foris Capital US.
The ETFs are expected to comprise digital assets and securities with a “Made in America” focus spanning diverse industries, TMTG said.
Crypto.com will support back-end technology, provide custody and supply cryptocurrencies for the ETFs, which are anticipated to include a basket of cryptocurrencies incorporating Bitcoin, Cronos and other crypto assets, TMTG said.
The funds, which are subject to definitive agreement and regulatory approval, are expected to be available globally, including in the U.S., Europe and Asia, on existing platforms and brokerages.
"We're excited to join Crypto.com, along with our partner Yorkville America, to launch America First investment products supporting innovative crypto ventures, great American companies, and cutting-edge technologies,” TMTG CEO and Chairman Devin Nunes said.
“We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation and strengthening the U.S. economy, unencumbered by woke nonsense and political posturing. Investors will finally have options that adhere to their principles and that support superior U.S. companies precisely focused on their core businesses,” he said.
The ETFs are planned to launch alongside a slate of Truth.Fi separately managed accounts, or SMAs. The ETFs and SMAs, both of which TMTG is planning to invest in via its own cash reserves, are part of the company’s financial services and fintech strategy.
Trump Media announced in January plans to launch Truth.Fi to develop investment vehicles based on “America-First principles,” with Schwab broadly advising on investments and strategy and developing the SMAs in partnership with Truth.Fi, as well as custodying the up to $250 million that TMTG will invest.
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