PANews reported on April 22 that according to Globenewswire, Trump Media Technology Group (DJT.O) has signed a binding agreement with cryptocurrency trading platform Crypto.com and asset management company Yorkville America Digital to launch a series of ETFs under the Truth.Fi brand. This agreement was reached after a non-binding agreement was signed by the companies in March. The law firm Davis Polk & Wardwell LLP will provide consulting services for product development and launch. These ETFs will be offered through Crypto.com's broker-dealer Foris Capital US LLC and are expected to include digital assets and securities from diverse industries such as energy, with a "Made in America" characteristic. After regulatory approval, these funds are expected to be launched later this year and will be widely available in international markets, including the United States, Europe, and Asia, covering existing platforms and brokers.
These ETFs are planned to be launched alongside a series of Truth.Fi Separately Managed Accounts (SMA). TMTG plans to invest in these ETFs and SMAs through its own cash reserves, which is part of TMTG's financial services and fintech strategy, utilizing up to $250 million in funds, to be custodied by Charles Schwab.
