Trump Media and Technology Group (TMTG) Reaches Nonbinding Agreement with Crypto.com to Launch a Series of ETFs

Trump Media and Technology Group (TMTG) has reached a nonbinding agreement with Crypto.com on launching a series of exchange-traded funds and exchange-traded products (ETFs).

Trump Media and Technology Group (TMTG) has reached a nonbinding agreement with Crypto.com (CRYPTO: CRO) on launching several exchange-traded funds (ETFs) and exchange-traded products (ETPs).

The financial products will carry the Truth.fi brand and appear this year in the U.S. and abroad.

Crypto.com’s broker-dealer Foris Capital will provide the America-First Investment Funds, which will include cryptocurrency funds and “securities with a Made in America focus spanning diverse industries such as energy.”

The ETFs will launch alongside Truth.Fi Separately Managed Accounts (SMAs). SMAs are managed portfolios created to meet an investor’s specifications. TMTG will invest up to $250 million in the ETFs and SMAs.

Charles Schwab (NYSE:SCHW) will partner with TMTG to develop the SMAs and will custody TMTG’s investment.

In February, TMTG registered trademarks for the Truth.Fi Made in America ETF and SMA, Truth.Fi U.S. Energy Independence ETF and SMA and Truth.Fi Bitcoin Plus ETF and SMA.

“We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy, unencumbered by woke nonsense and political posturing,” said Devin Nunes, former congressperson and CEO of TMTG.

“We are proud to partner with Truth Social and Yorkville America, and to support the launch of these new ETFs, including the first of its kind basket of tokens including CRO. Once launched, these ETFs will be available on the Crypto.com App for our more than 140 million users around the world,” added Kris Marszalek, co-founder and CEO of Crypto.com.

Cronos (CRO) traded at $0.080 early on March 24, reached a peak of $0.099 at 11:30 p.m. GMT and settled down to $0.095 at the time of writing.

Crypto.com will maintain backend technology, provide custody for the Truth.Fi Bitcoin Plus ETF and supply the cryptocurrencies for the ETF, which will be a basket of mixed coins.

TMTG selected New York-based investment firm Yorkville Advisors as its registered investment adviser for the America-First line in January.

The financial products will appear this year in the U.S. and abroad.

TMTG was founded in 2021. U.S. President Donald Trump is the largest shareholder, owning almost 60% of the stock. It operates social media platform Truth Social and streaming TV platform Truth+. In addition, it is launching Truth.Fi financial services company, which will incorporate the America-First investment products.

Besides Nunes, the TMTG board of directors includes Donald Trump Jr. and U.S. Federal Bureau of Investigation director Kash Patel. Linda McMahon recently resigned to take the post of Secretary of Education.

Donald Trump Sr. is also associated with the World Liberty Financial (WLFI) decentralized protocol. His sons Donald Jr., Eric and Barron hold positions in that organization as well.

See More: Top 100 Dividend Stocks

This article was written by Benzinga and edited by Narrative Science for clarity and coherence. Benzinga has not reviewed, edited or approved any portion of this article. Content Summary: Trump Media and Technology Group (TMTG) has reached a nonbinding agreement with Crypto.com to launch several exchange-traded funds (ETFs) and exchange-traded products (ETPs). The financial products will carry the Truth.fi brand and appear this year in the U.S. and abroad.

Crypto.com’s broker-dealer Foris Capital will provide the America-First Investment Funds, which will include cryptocurrency funds and “securities with a Made in America focus spanning diverse industries such as energy.”

The ETFs will launch alongside Truth.Fi Separately Managed Accounts (SMAs). SMAs are managed portfolios created to meet an investor’s specifications. TMTG will invest up to $250 million in the ETFs and SMAs.

Charles Schwab will partner with TMTG to develop the SMAs and will custody TMTG’s investment.

In February, TMTG registered trademarks for the Truth.Fi Made in America ETF and SMA, Truth.Fi U.S. Energy Independence ETF and SMA and Truth.Fi Bitcoin Plus ETF and SMA.

“We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy, unencumbered by woke nonsense and political posturing,” said Devin Nunes, former congressperson and CEO of TMTG.

“We are proud to partner with Truth Social and Yorkville America, and to support the launch of these new ETFs, including the first of its kind basket of tokens including CRO. Once launched, these ETFs will be available on the Crypto.