Trump Media and Crypto.com Team Up to Launch a Series of ETFs and ETPs

Trump Media, the parent company of Truth Social, has teamed up with Crypto.com to launch a series of ETFs and ETPs.

The partnership between Trump Media & Technology Group (TMTG), the parent company of Truth Social, and cryptocurrency exchange Crypto.com to launch a series of exchange-traded funds (ETFs) and exchange-traded products (ETPs) is heating up.

According to a press release, the products will include digital assets such as Bitcoin (BTC) and Crypto.com Coin (CRO), along with other securities focusing on American industries, such as energy. The launch is expected later this year, pending regulatory approval.

Crypto.com will provide the backend technology, custody solutions, and crypto supply for the funds, which are expected to be available worldwide, including in the U.S., Europe, and Asia, through existing platforms and brokerages.

The news comes as Cronos showed strength, climbing over 18% due to market excitement and momentum. In December, Cronos hit a yearly high after reports of a meeting between the Crypto.com CEO and the U.S. President, along with a legal resolution with the SEC. However, CRO has since dropped 30%. Today’s news has brought new liquidity to the altcoin.

“We are excited to partner with Crypto.com and be applying for these unique investment products that will support American businesses, innovative technologies, and crypto ventures, all while remaining compliant with U.S. regulations,” said TMTG CEO Devin Nunes. “These funds will be designed to strengthen the U.S. economy without being driven by any political agenda.”

“We are also incredibly proud to be partnering with Trump Media & Technology Group and to support the launch of these new ETFs, which will provide investors with unique investment opportunities in a variety of asset classes and industries,” added Kris Marszalek, co-founder and CEO of Crypto.com. “We are particularly excited about the launch of the first-of-its-kind basket of tokens, which will include Crypto.com Chain's native token, CRO.”

The ETFs will launch alongside Truth.Fi Separately Managed Accounts (SMAs). Both the ETFs and SMAs are part of TMTG's broader financial services strategy, with TMTG planning to invest up to $250 million in the SMAs, which will be managed by Charles Schwab.

However, A Cronos ETF could be the biggest political crypto scandal since the TRUMP token. U.S. Presidents are not supposed to be involved in private business, especially with foreigners.

Could Trump’s firm get the SEC’s top approval? Would it harm the Commission’s credibility?