Trump Media Explores Partnership with Crypto.com for ETF Launch
Trump Media has announced a non-binding agreement with Crypto.com to launch a series of exchange-traded funds (ETFs) in the United States. The partnership also involves Trump Technology Group Corp (TMTG), operator of the social media platform Truth Social and fintech brand Truth.Fi.
Details of the Planned ETFs
The ETFs, expected to launch later this year pending regulatory approval, will be offered through Crypto.com’s broker-dealer, Foris Capital US LLC. These ETFs will focus on digital assets and securities with a “Made in America” theme.
Crypto.com will provide infrastructure and custody services for the ETFs, which may include cryptocurrencies such as:
- Bitcoin (BTC)
- Ether (ETH)
- Solana (SOL)
- XRP (XRP)
- Cronos (CRO)
The ETFs are expected to be widely available internationally, including markets in the US, Europe, and Asia, accessible through existing brokerage platforms.
“Once launched, these ETFs will be available on the Crypto.com App for our more than 140 million users around the world,” said Crypto.com co-founder and CEO Kris Marszalek.
Additional Financial Products
Alongside the ETFs, Trump Media and TMTG plan to introduce Truth.Fi Separately Managed Accounts (SMAs), in which TMTG intends to invest using its cash reserves.
Political Controversy and Criticism
This potential ETF launch marks another crypto-related initiative involving former US President Donald Trump. However, Democratic lawmakers have raised concerns about conflicts of interest between Trump’s presidential duties and his business ventures, including:
- Ownership of crypto platform World Liberty Financial.
- Launch of the Official Trump (TRUMP) memecoin shortly before his inauguration.
House Representative Gerald Connolly described the TRUMP token as a “money grab,” alleging Trump-linked entities profited over $100 million in trading fees. Democrat Maxine Waters also criticized the memecoin, labeling it a “rug pull” and representing the “worst of crypto.”
Quick Summary
- Trump Media partners with Crypto.com to launch ETFs.
- ETFs to include cryptocurrencies like BTC, ETH, SOL, XRP, and CRO.
- Products to be available internationally via Crypto.com’s platform.
- Democratic lawmakers express concerns over potential conflicts of interest.
