Trump Media & Technology Group Corp (NASDAQ:DJT), the social media firm founded by former US President Donald Trump, announced a partnership with cryptocurrency trading platform Crypto.com to launch exchange-traded funds (ETFs).
Shares of Trump Media saw an approximate 8% increase, reaching about $23 on Tuesday morning. The company stated that these upcoming ETFs will concentrate on ‘Made in America’ principles, featuring sectors such as energy, manufacturing, and technology. The fund will incorporate a crypto-focused ETF basket, including Bitcoin, Crypto.com’s Cronos token, and other digital currencies.
The expected launch is anticipated for later in 2025, contingent on regulatory approval from the US Securities and Exchange Commission (SEC). Once approved, the ETFs are planned to be offered globally, encompassing the US, Europe, and Asia.
“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,” said Devin Nunes, CEO of Trump Media, in a statement. “We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the US economy, unencumbered by woke nonsense and political posturing.”
