Trump Media Partners With Crypto.com To Launch New ETFs Line

Trump Media & Technology Group (TMTG), behind Truth Social, is moving into the financial sector with a new offering. Announced earlier today, the company has partnered with Crypto.com and Yorkville America Digital to create new crypto investment products. 

These exchange-traded funds (ETFs) will focus on digital assets like Bitcoin (BTC) and American-made companies. If regulators approve, these digital products will be sold under the brand “Truth.Fi” and may launch later this year.

Truth ETFs: Invest in Crypto and U.S. Businesses

The upcoming “Truth” ETFs will allow users to invest in cryptocurrency and American businesses. The idea is to support the U.S. economy and participate in the growth of digital assets. Other investment options, like managed accounts, will also be available. Users can buy these through regular brokerage platforms in the U.S., Europe, and Asia.

This initiative has sparked much interest in the crypto community and from major industry players. TMTG CEO Devin Nunes sees this move as a major step into the financial world. He believes the new products will appeal to people who support the U.S. economy and digital assets.

Crypto.com’s CEO Kris Marszalek believes the deal shows the company’s strength in connecting traditional finance with digital assets. Yorkville CEO Troy Rillo sees the initiative as an important “America-first” investing step. 

TMTG Commit To New ETF With Massive Investment

Trump Media is not just launching these products; it is also investing in them. The company plans to invest up to $250 million in the new funds. Charles Schwab, a well-known financial firm, will help keep these funds safe as their custodian. 

Interestingly, before TMTG’s latest announcement, Rick Wurster, Charles Schwab’s CEO, predicted that the U.S. market would likely see the launch of new spot crypto trading within the next 12 months.

Furthermore, TMTG has also applied for trademarks for six different investment products under the Truth.Fi brand. These focus on American manufacturing, energy independence, and Bitcoin investment. This move shows Trump Media wants to be more than just a social media company. 

Will the SEC Approve the New ‘Truth’ ETFs?

The launch of TMTG’s “Truth” ETFs is pending approval from the U.S. Securities and Exchange Commission (SEC). While the SEC has approved some spot Bitcoin ETFs in the past, approving these new crypto ETFs will depend on regulatory reviews. 

Many are watching to see the agency’s evolving stance under new leadership. Meanwhile, the SEC is currently reviewing several crypto-related ETFs. These include those focused on popular cryptocurrencies like SUI, XRP, Solana (SOL), and Dogecoin (DOGE).