- Trump Media announced that its Fintech arm, Truth.Fi, signed a non-binding agreement to partner with Crypto.com.
- The partnership seeks to allow Truth.Fi to begin launching its own ETFs.
- The company aims to make the products available abroad, including Europe and Asia.
Trump Media and Technology Group (TMTG) announced on Monday that its fintech arm, Truth.Fi has signed a non-binding agreement with Crypto.com to launch several exchange-traded funds (ETFs).
Trump Media set to launch 'Made in America' ETF products
President Trump's Trump Media and Technology Group (TMTG) plans to launch a series of ETFs in 2025, according to a press release from the company.
The firm signed a non-binding agreement to partner with crypto exchange Crypto.com to help issue the ETFs through its Fintech brand Truth.Fi.
The ETFs will focus on cryptocurrencies and securities originating in the US, made available through Crypto.com's broker-dealer, Foris Capital. Crypto.com will function as the official token supplier for the crypto ETFs, including Bitcoin, Cronos, and other "Made in America" tokens.
"We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation and strengthening the US economy, unencumbered by woke nonsense and political posturing," TMTG CEO and Chairman Devin Nunes said in the press release.
Trump Media also stated that the ETFs will be made available internationally, particularly in Europe and Asia, maximizing existing brokerages and investment platforms. Once launched, Crypto.com users will be able to access the funds through its app, Crypto.com co-founder Kris Marszalek stated.
The products will launch later in the year, pending regulatory approval and an official agreement between both parties. They are set to debut with a series of Truth.Fi Separately Managed Accounts (SMAs), receiving an allocation of up to $250 million of the company's funds.
The move adds to TMTG's interest in becoming a key player in the digital asset industry. It also follows President Trump's promise to make America the crypto capital of the world.
Cronos (CRO) is up 13% following the announcement.
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