Trump Media Signs Binding Agreement to Launch Crypto and ETF Products
Trump Media & Technology Group, the social media firm backed by U.S. President Donald Trump, has entered into a binding agreement to launch a range of retail investment products, including cryptocurrency offerings and exchange-traded funds (ETFs). The move is part of the company’s latest effort to diversify into financial services.
The planned financial products are expected to be aligned with Trump’s “America First” policies and are set to launch later this year, pending regulatory approval. The development follows a preliminary agreement announced last month between Trump Media and Crypto.com, a digital asset platform with ties to broker-dealer Foris LLC, and Yorkville America Digital, an affiliate of New Jersey-based investment advisory and asset management firm Yorkville Advisors.
Devin Nunes, CEO of Trump Media, expressed enthusiasm about bringing these new investment opportunities to the market, stating, “We look forward to bringing ETFs to the market for investors who believe both the American economy and digital assets are poised for tremendous growth.”
This move marks the Trump family’s latest foray into the cryptocurrency space. Other ventures include Trump NFTs, a meme coin, a stake in American Bitcoin, a new bitcoin producer, and the cryptocurrency exchange World Liberty Financial. The Trump Organization announced in January that President Trump’s investments, assets, and business interests, including his $2.7 billion stake in Trump Media, would be managed by his children in a trust, with Trump having no role in day-to-day operations or decision-making.
The development comes as Crypto.com recently received notification from the SEC that it had closed a 2024 investigation into the company without taking enforcement action. While no ETF filings have been submitted to the Securities and Exchange Commission website yet, existing ETFs already offer products aligned with Trump’s policy objectives. For instance, the American Conservative Values ETF has $110 million in assets, and the God Bless America ETF has $79.4 million in assets.
Trump Media’s entry into the financial services sector through crypto and ETF products represents a significant expansion of its business operations, potentially appealing to investors who support Trump’s economic and political agendas.
