Trump Media and Technology Group (TMTG) to Launch Crypto-Themed ETFs Including Bitcoin and Cronos

The announcement by Trump Media and Technology Group Corp to provide ETFs, which include cryptocurrencies, is another step toward legitimacy for the digital assets industry.

Trump Media and Technology Group Corp (NASDAQ:MAGA) announced a partnership with Crypto.com to provide a series of exchange traded funds (ETFs) that will include cryptocurrencies and have a “Made in America” focus.

The move by Trump’s company marks another step toward greater legitimacy for the digital assets industry.

The ETFs are to be focused on supporting the U.S. in its embrace of cryptocurrencies as part of an expanding digital economy strategy, despite the ETFs being widely available across global markets. Along with cryptocurrencies, the ETFs will include securities with a broad focus including energy.

Crypto.com has been chosen as the partner for this joint venture and will provide the back-end technology, custody, and supply of the crypto assets, which include Bitcoin and Cronos, Crypto.com’s own crypto token.

Foris Capital US LLC, broker dealer of Crypto.com, will enable the availability of the ETFs. The agreement with Crypto.com is non-binding at this stage.

“Proud to partner with @realdonaldtrump’s Truth Social on a series of ETFs, including the world’s first ETF with $CRO,” said Kris Marszalek, CEO of Crypto.com.

The ETFs are to launch through the Truth.Fi brand, the FinTech arm of TMTG. Truth.Fi recently launched in January. TMTG also operates Truth+ a streaming service platform, and Truth Social, a right leaning social media platform.

Separately Managed Accounts (SMAs) of Truth.Fi will be launching alongside the ETFs, with Charles Schwab (NYSE:SCHW) to take custody of the up to US$250M being invested by TMTG.

Crypto Under Trump

This marks another arm of Trump’s company in the digital assets industry. This is evident through his administration’s provision of a more friendly regulatory environment and the executive order to form a strategic digital assets reserve.

Moreover, besides this most recent announcement by TMTG, the DeFi project World Liberty Fi is backed by several family members of the Trump family.

Trump also launched his meme coin Trump earlier this year. Over the weekend, Trump made a reference to the meme coin on his social media platform Truth Social, which has been a point of controversy for some.