Trump Media looks to partner with crypto.com to launch ETFs
Trump Media has inked a non-binding agreement with crypto exchange Crypto.com to launch a series of ETFs that will comprise of digital assets and securities.
Trump Media has signed a non-binding agreement with Crypto.com to launch a series of exchange-traded funds in the US.
Trump Technology Group Corp (TMTG) — the operator of the social media platform Truth Social and fintech brand Truth.Fi — is also part of the agreement, which is subject to regulatory approval, according to a March 24 statement from Trump Media.
The parties plan to launch the ETFs later this year through Crypto.com’s broker-dealer, Foris Capital US LLC. The ETFs will consist of digital assets and securities with a “Made in America” focus.
Crypto.com will provide the infrastructure and custody services to supply the cryptocurrencies for the ETFs, which may include a basket of tokens, including Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP (XRP) and Cronos (CRO).
The parties involved expect the ETFs to be widely available internationally, including in the US, Europe and Asia across existing brokerage platforms.
”Once launched, these ETFs will be available on the Crypto.com App for our more than 140 million users around the world,” Crypto.com co-founder and CEO Kris Marszalek said.
The ETFs are anticipated to launch alongside a slate of Truth.Fi Separately Managed Accounts (SMA), which TMTG also plans to invest in with its cash reserves.
Source: Kris Marszalek
