Trump Media and Technology Group Corp. (TMTG), the parent company of social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, has inked a preliminary agreement with Crypto.com, a leading cryptocurrency trading platform in the US. This collaboration aims to launch a series of Exchange-Traded Funds (ETFs) and Exchange-Traded Products (ETPs) under the Truth.Fi brand.
These ETFs, facilitated through Crypto.com’s brokerage firm Foris Capital US LLC, are projected to consist of digital assets as well as Made in America securities spanning diverse sectors like energy. Crypto.com will manage the backend technology, custody, and supply the cryptocurrencies for these ETFs, which are expected to feature a unique basket of cryptocurrencies including Bitcoin, Cronos, among other crypto assets.
Subject to definitive agreements and regulatory approval, these funds are planned to be launched later this year and are expected to be widely available internationally, including in the US, Europe, and Asia across existing platforms and brokerages.
Devin Nunes, TMTG’s CEO and Chairman, expressed his excitement about the partnership with Crypto.com, and Yorkville America, to launch investment products supporting innovative crypto projects and American companies. He also highlighted their aim to create innovative funds incorporating companies focused on rapid growth, technological innovation, and strengthening the US economy, free from political posturing.
Kris Marszalek, Co-founder and CEO of Crypto.com, affirmed their pride in partnering with Truth Social (DJT) and Yorkville America, and supporting the launch of these new ETFs. He emphasized that these ETFs will provide consumers with more options from a brand with a loyal following. Once launched, these ETFs will be available on the Crypto.com App for their more than 140 million users globally.
The ETFs are scheduled to launch alongside a range of Truth.Fi Separately Managed Accounts (SMAs), both of which TMTG is planning to invest in using its cash reserves, as part of a financial services and FinTech strategy, with funds up to $250 million to be custodied by Charles Schwab.
About TMTG and Crypto.com: TMTG aims to counter Big Tech’s assault on free speech by promoting open Internet and giving people their voices back. Crypto.com, established in 2016, is trusted by more than 140 million customers worldwide and is committed to accelerating the adoption of cryptocurrency.
Notes: Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from the expectations that we describe in our forward-looking statements. Risk factors include our ability to recognize the anticipated benefits of Truth.Fi, the possibility of adverse economic, business, and/or competitive factors; our ability to develop and launch new products and offerings; our ability to obtain regulatory approval, among others.
