Trump Media inks deal with Crypto.com for ‘Made in America’ ETFs
Trump Media and Technology Group has signed a binding agreement with Crypto.com and Yorkville America Digital to launch exchange-traded funds (ETFs) focused on American-made assets. The ETFs will include digital assets and securities across various industries, including energy, and will be launched through Trump Media's decentralized finance brand, Truth.Fi, via Crypto.com’s broker-dealer, Foris Capital. The launch is expected in 2025, pending regulatory approval. Trump Media plans to invest some cash reserves into these ETFs, supported by a partnership with Charles Schwab. This venture follows previous crypto initiatives by the Trump family, including the launch of World Liberty Financial and a crypto mining venture. Spot Bitcoin ETFs have recently seen over $1 billion in inflows as the crypto market rebounds, while Crypto.com's token, Cronos (CRO), increased by 12% after the deal but remains significantly down from its 2021 peak.
