Crypto.com and Yorkville America Digital Partner to Launch TMTG-branded Exchange-Traded Funds (ETFs)

TMTG, the company behind Truth Social, has finalized a deal with Crypto.com and Yorkville America Digital. The arrangement leads to the creation of a series of exchange-traded funds (ETFs) that come out under the TruthFi brand.

Trump Media and Technology Group (TMTG), the company behind the social media platform Truth Social and is currently integrating digital assets into its financial services, is set to launch a series of exchange-traded funds (ETFs) under the TruthFi brand in partnership with Crypto.com and Yorkville America Digital, a move that will see the company enter the financial services sector in a big way.

According to a report by crypto journalist Eleanor Terrett, the partnership will see the creation of ETFs that invest primarily in U.S. digital currencies and domestic American investment products, aiming to attract investors from both traditional markets and the digital currency sector. The available funds will be provided by Crypto.com’s broker, Foris Capital US LLC.

The ETFs will combine digital currencies with traditional securities as components, with a core emphasis on energy industry sectors. Pending necessary regulatory approvals, the ETFs are expected to launch later this year and will be accessible worldwide, spanning the U.S., Europe, and Asia.

TMTG CEO Devin Nunes expressed his enthusiasm about the announced agreement, highlighting this move as a fundamental method for his company to broaden its investment possibilities.

“We are thrilled to be partnering with the elite teams at Crypto.com and Yorkville America Digital to launch the TruthFi brand of ETFs and Separately Managed Accounts,” said Nunes. “Both Crypto.com and Yorkville America Digital are integral partners who bring meaningful professional experience to this project. This partnership will allow investors to capitalize on premier U.S. economic ventures and digital assets, which I believe will grow exponentially over the next several years.”

“We are pleased to partner with TMTG and Yorkville America Digital to launch the TMTG ETFs and provide investors with access to a unique product offering that combines the strengths of both DeFi and CeFi,” added Kris Marszalek, CEO of Crypto.com. “We believe that this partnership will unlock new opportunities for investors and contribute to the future of finance.”

“This transaction showcases Crypto.com’s ability to seamlessly integrate cryptocurrency blockchain technology with traditional finance. We are also able to provide investors in the U.S. and Europe with access to the TMTG ETFs through our registered broker-dealer, Foris Capital US LLC.”

Troy Rillo, CEO of Yorkville America Digital, also shared his thoughts on the partnership.

“We are thrilled to announce this partnership with TMTG and Crypto.com to bring the TruthFi brand of ETFs to market,” said Rillo. “This deal is a major step forward for our company as we continue to develop innovative financial products that meet the needs of today’s investors.”

“The products will be marketed with an America-First strategic orientation and we expect this approach will resonate strongly with business investors. We have the utmost confidence that the ETF launches will generate significant investor interest. These funds are expected to attract both digital market and traditional market investors who are seeking to diversify their portfolios.”

In addition to the ETFs, TMTG plans to launch the Truth.Fi Separately Managed Accounts (SMAs), which will be funded by Trump Media’s financial reserves. The products managed by TMTG will receive no less than a $250 million financial allocation.

Furthermore, TMTG has established mutual agreements with Charles Schwab for handling and protecting the investments. This strategic step will aid TMTG in solidifying its market position in the financial sector.

The collaboration between crypto providers like TMTG and Crypto.com and Yorkville America Digital marks a major advancement for Trump Media operations. The company is advancing its business operations by integrating digital assets through its financial services.

This initiative holds promise to transform the way investments function as traditional methods converge with digital assets. If successful, digital finance models of the future might find their basis in the ongoing improvements in the financial industry. It could help bridge the gap between digital and traditional finance, benefiting both markets and investors.