Trump Media to Partner with Crypto.com for ETF Issuance
Trump Media, the company behind Truth Social, is planning to collaborate with the cryptocurrency exchange Crypto.com to launch a series of exchange-traded products (ETPs) and funds (ETFs), as reported on Monday. The announcement indicates that these ETPs could feature crypto assets as well as securities from other sectors, such as the energy industry. Crypto.com will be responsible for providing the necessary backend technology, custOdy solutions, and crypto supply.
The investment vehicles are anticipated to launch in 2025.
This recent partnership is the latest in a line of cryptocurrency initiatives backed by former U.S. President Donald Trump and his family. Trump and his associates previously released multiple NFT collections and memecoins, in addition to their DeFi protocol, World Liberty Financial (WLFI).
Following the announcement, DJT stock saw over a 9% increase in after-hours trading.
Disclaimer: The author holds Bitcoin above CoinDesk’s disclosure threshold of $1,000.
