Trump Media seals the deal with Crypto.com to launch crypto ETFs

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Trump Media seals the deal with Crypto.com to launch crypto ETFs.

crypto :: 1day ago :: source - thestreet

By Anand Sinha

Trump Media and Technology Group, or TMTG (Nasdaq: DJT) — majority-owned by President Donald Trump — finalized the deal with Crypto.com and Yorkville America Digital on Apr. 22 to launch exchange-traded funds (ETFs) tied to crypto assets and securities.

🇺🇸 LATEST: #Trump Media seals the deal with Crypto. com to launch #ETFs! pic.twitter.com/wtOPHhChMc
— Roundtable Network (@RTB_io) April 22, 2025

A crypto ETF is a financial product that gets traded on traditional stock exchanges and gives investors exposure to crypto assets without the need for traders to directly own the cryptocurrency.

These ETFs will be tied to Bitcoin and Cronos, among other cryptocurrencies. These funds are expected to launch later this year.

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TMTG is most well-known for Truth Social, the social media platform where Trump posts regularly. The ETFs will be launched under the Truth.Fi brand, a financial platform under TMTG.

TMTG CEO and Chairman Devin Nunes said, “This agreement is a major step forward in diversifying TMTG into financial services and digital assets. We’re gratified to work with great partners, Crypto.com and Yorkville America Digital, and look forward to bringing ETFs to the market for investors who believe both the American economy and digital assets are poised for tremendous growth.”

Crypto.com is a prominent crypto trading platform, and Yorkville America Digital is a leading asset manager in the U.S.

Crypto.com will make these ETFs available through its broker-dealer, Foris Capital US LLC, in the U.S., Europe, and Asia, across existing platforms and brokerages.

The DJT stock reacted positively to the news and soared 2% within two hours of the announcement to trade at $22.93.

Note that Trump is associated with several crypto ventures such as the decentralized finance (DeFi), World Liberty Financial, and the eponymous meme coins.