Trump-Owned TMTG to Launch Crypto ETFs in Partnership with Crypto.com
On March 24, Trump Media & Technology Group (TMTG), a company majority-owned by former President Donald Trump, announced a strategic partnership with the cryptocurrency exchange Crypto.com. The collaboration aims to launch exchange-traded funds (ETFs) linked to various cryptocurrencies.
Former President Donald Trump. (Image: TheStreet)
These ETFs, scheduled for release later this year, will provide exposure to cryptocurrencies such as Bitcoin and Cronos, among others. According to the official statement, Crypto.com will facilitate the availability of these funds through its broker-dealer Foris Capital US LLC, offering access across existing platforms and brokerages in the United States, Europe, and Asia. The launch of the ETFs will be branded under Truth Social, a TMTG unit.
Devin Nunes, CEO and Chairman of TMTG, expressed enthusiasm, stating, “We’re excited to join Crypto.com, along with our partner Yorkville America, to launch America First investment products supporting innovative crypto ventures, great American companies, and cutting-edge technologies.”
Kris Marszalek, co-founder and CEO of Crypto.com, added, “These ETFs will give consumers more options from a brand with a loyal following. Once launched, these ETFs will be available on the Crypto.com App for our more than 140 million users around the world.”
The announcement had a positive impact on DJT stock, which saw a rise of over 8% within a day. At the time of writing, the stock was trading at $22.74.
Trump’s Growing Presence in the Crypto Market
This project represents the latest venture into the cryptocurrency space for companies either owned or backed by Donald Trump.
In January, TMTG initiated a financial platform called Truth.Fi. Furthermore, World Liberty Financial, a decentralized finance (DeFi) venture co-founded by Trump’s long-time associate Steve Witkoff and his sons, is currently testing a USD-pegged stablecoin. DT Marks DEFI LLC, an entity associated with Trump, is slated to receive 75% of the company’s net revenue.
During two rounds of WLFI token offerings, World Liberty Financial has raised $550 million.
Prior to his inauguration as president in January, Trump launched a meme coin under his name. His wife, Melania, followed suit shortly thereafter. However, both meme coins experienced a significant decline in value shortly after their launch.
Political Concerns and Criticism
Trump’s expansion into the cryptocurrency market has drawn criticism, primarily from Democrats, who have raised concerns regarding potential conflicts of interest.
On February 27, 2025, Representative Sam Liccardo (D-CA) introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act. This bill sought to bar the president, members of Congress, and other senior officials from launching or backing cryptocurrencies. The aim of the act was to address apprehensions related to transparency, insider trading, and foreign influence, but the bill has yet to advance.
