2025-04-23
Trump Media and Technology Group, which runs the social network Truth Social, has signed a deal with Crypto.com to launch exchange-traded funds (ETFs) on April 22, 2025.
These ETFs will focus on American-made
assets, including both cryptocurrencies and traditional stocks from industries
like energy.
The ETFs will be offered through Trump
Media’s finance brand, Truth.Fi, and will be available via Crypto.com’s
broker-dealer, Foris Capital.
The funds are expected to launch in
late 2025, but they still need approval from regulators.
Trump Media also plans to put some of
its cash reserves into these ETFs that will be launched alongside a number of
Truth.Fi Separately Managed Accounts.
The law firm Davis Polk is helping with the
legal side of the launch.
Trump Media plans to use up to $250
million that it holds with Charles Schwab as a custodian, following a
partnership agreement signed in January.
This latest deal builds on a previous
non-binding agreement Trump Media and Crypto.com signed in March.
It’s also part of a growing trend of
crypto-related business moves by Trump and his family.
Last year, the Trumps launched a crypto
platform called World Liberty Financial, which includes a digital token and
plans for a stablecoin. Trump’s sons, Eric and Don Jr., are also involved in a
crypto mining company called American Bitcoin.
Lastly, Crypto.com’s token, Cronos
(CRO), jumped 12% after the Trump Media deal, now trading at $0.09. But it’s
still way down from its 2021 peak of nearly $1.
