Trump Media Enters ETF Market Through Crypto.com Partnership
Trump Media & Technology Group, the parent company of Truth Social, is collaborating with cryptocurrency platform Crypto.com to introduce exchange-traded funds (ETFs). This venture will be part of Trump Media’s ‘Truth.Fi’ financial services brand, according to a report from Reuters.
The planned ETFs will offer a mix of digital assets, including Bitcoin, along with traditional securities focused on a “Made in America” strategy across various industries. This information was confirmed in a company statement.
Crypto.com’s broker-dealer arm, Foris Capital, will provide the required technological infrastructure, custody solutions, and cryptocurrency support for these products. Proposed offerings include the ‘Truth.Fi Bitcoin Plus ETF’ and the ‘Truth.Fi Made in America ETF,’ with plans to launch later this year in the U.S., Europe, and Asia.
The alliance follows Trump Media’s January announcement of its Truth.Fi financial services and a February filing to trademark six investment products designed to monitor bitcoin and U.S. industrial sectors, as Reuters reported. The company disclosed holding over $700 million in cash at the end of last year and authorized up to $250 million in investments via Charles Schwab as part of a diversification strategy. Trump Media intends to distribute funds across ETFs, managed accounts, and cryptocurrency investments.
This partnership marks Trump Media’s latest move to broaden its reach beyond the Truth Social platform, entering the financial services sector amid fluctuating stock prices since its public debut through a SPAC merger earlier this year. Company shares saw a 10.5% increase in after-hours trading following the announcement, despite remaining 38% down over the past year.
