Key Takeaways
- Trump Media & Technology Group (TMTG) collaborates with Crypto.com to bring new exchange-traded funds (ETFs).
- The ETFs will be launched through Foris Capital later this year.
- The reveal of the partnership led to a 10% increase in the stocks of TMTG.
- The service is expected to increase the mainstream traction of both crypto and U.S. stocks.
Trump Media & Technology Group (TMTG) revealed on Monday that it is partnering with Crypto.com Exchange to launch its Truth.Fi brand’s exchange-traded funds (ETFs). The announcement impacted the charts of the company stock, which surged 10% within hours. Despite the uptrend, it has plunged almost 40% in the past three months.
ETFs, which are expected to launch later this year, will be available through Foris Capital, the broker-dealer for Crypto.com. Trump Media said it has applied to trademark six new investment products that emphasize “Make America Great Again”, including Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF and Truth.Fi U.S. Energy Independence ETF.
Crypto Adoption Goes Mainstream with Trump Media ETF Partnerships
Following the second-time arrival of Donald Trump’s administration in the U.S., technology-based niches, especially the blockchain environment, are witnessing global expansion. The ETF partnership is the latest addition to this expansion, and international markets, including those in the Americas, Europe, and Asia, will have access to the funds.
According to CEO and Chairman Devin Nunes, the innovative initiative aims to help the country with rapid growth, technological innovation, and strengthening the economy. “We’re excited to support innovative crypto ventures, great American companies, and cutting-edge technologies”, he added.
Crypto.com CEO and co-founder Kris Marszalek shared his excitement towards the partnership with Truth Social (DJT) and Yorkville America, expecting that it will give customers more options from a brand that has such a loyal following. Once launched, these ETF products will be available on the Crypto.com’s app for our more than 140 million global users.
About Trump Media & Technology Group
Trump Media & Technology Group (TMTG) is one of the leading media and technology companies that runs Truth Social, a social media network. Founded by Donald Trump, Andy Litinsky, and Wes Moss in 2021, the firm went public on March 26, 2024. It was created when Trump was banned from using X (Twitter) in 2021 in response to his role in the January 6 United States Capitol attack.
About Crypto.com
Crypto.com is a Singapore-based centralized exchange that aids the trading of cryptocurrencies and digital assets. Founded in 2016, the platform has 140 million active users globally. Beyond the crypto exchange, web3 wallet, and NFT services, the platform offers stock trading. Renowned actor Matt Damon was signed to serve as the brand ambassador of the company.
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About Foris Capital US LLC
Foris Capital is a broker-dealer approved by the U.S. Securities and Exchange Commission. It is a separate entity from Crypto.com and a Member of FINRA and SIPC. It provides high-quality financial products and services for institutional investors and individual traders.