Trump Media and Technology Group Corp. and Crypto.com Sign Non-binding Agreement to Launch a Series of ETFs

Trump Media and Technology Group Corp. and Crypto.com have signed a non-binding agreement to launch a series of exchange-traded funds (ETFs)

Crypto exchange Crypto.com and Trump Media & Technology Group Corp have entered into a non-binding agreement to launch a series of exchange-traded funds (ETFs) in the US, according to a press release published Thursday.

The move comes after months of speculation that the crypto exchange could be planning to expand its product offerings to include ETFs. It also follows the recent approval of several Bitcoin ETFs by the US Securities and Exchange Commission (SEC).

The ETFs, which are targeted for launch later this year, will be available through Foris Capital US LLC, Crypto.com’s broker-dealer, to investors in the US, Europe and Asia pending regulatory approval, the statement added.

“We are pleased to partner with Trump Media to offer a unique and diverse range of investment products to a global audience,” said Crypto.com CEO Kris.

The ETFs will be focused on cryptocurrencies and other digital assets, and they will be designed to provide investors with a convenient and cost-effective way to gain exposure to the crypto market.

As part of the agreement, Crypto.com will provide the infrastructure and custody services for the ETFs, as well as supply cryptos that are “made in America” for the funds.

The basket of digital assets may include crypto market leaders Bitcoin (BTC) and Ethereum (ETH). Smaller altcoins such as XRP, Solana (SOL) and Cronos (CRO) could also be included in the ETFs.

The ETFs will also be available on the Crypto.com App for the exchange’s “more than 140 million users around the world.”

The ETFs are planned to launch alongside an array of “Truth.Fi Separately Managed Accounts (SMAs),” the statement added. TMTG is planning to invest in both the ETFs and SMAs using its own cash reserves.

The announcement comes as Trump Media continues to expand its operations. The company recently launched its own streaming service, Trump Media Streaming Network. It is also planning to launch a banking service called Trump Pay.

The partnership with Crypto.com is a significant step for both companies as they look to expand their reach in the coming year.

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