Trump Media has signed a non-binding agreement with Crypto.com to launch a series of ETFs in the US.
Trump Media plans to launch ETF
Technology Group Corp (TMTG) – the operator of the Truth Social social media platform and Truth.Fi fintech brand – is also participating in this agreement, according to an announcement on March 24 from Trump Media, which will require regulatory approval.
The parties intend to launch ETFs by the end of this year through Crypto.com's brokerage company, Foris Capital US LLC. These ETFs will include digital assets and securities with a "Made in America" focus.
Crypto.com will provide infrastructure and custody services to provide cryptocurrencies for the ETFs, which may include tokens such as Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP (XRP), and Cronos (CRO).
The participating parties expect the ETFs to be widely available globally, including in the US, Europe, and Asia through existing brokerage platforms.
"We plan to launch these ETFs on the Crypto.com app for over 140 million global users," said Kris Marszalek, co-founder and CEO of Crypto.com, stated.
These ETFs are expected to be launched alongside Truth.Fi's Separately Managed Accounts (SMA), which TMTG also plans to invest in using cash reserves.
Trump and recent crypto activities
The launch of the ETF could mark another effort related to cryptocurrency in Donald Trump's activities.
However, Democratic lawmakers argue that there are conflicts of interest between presidential duties and ownership of the World Liberty Financial cryptocurrency platform of Trump Organization, as well as the Official Trump (TRUMP) meme token he launched three days before taking office.
Representative Gerald Connolly recently called the TRUMP token a "money-making scheme" that allows Trump-related organizations to earn over $100 million in transaction fees.
Democratic Representative Maxine Waters also criticized Trump's meme token on January 20, calling it a representative "rug pull" of "the worst of cryptocurrency."
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The article Trump Media plans to partner with Crypto.com to launch ETF first appeared on CoinMoi.
