Trump Media and Technology Group Signs Agreement with Crypto.com and Yorkville America Digital
Trump Media and Technology Group (TMTG) announced on Tuesday that it has signed a legally binding agreement with cryptocurrency exchange Crypto.com and American asset management firm Yorkville America Digital to launch a series of Exchange-Traded Funds (ETFs) and Exchange-Traded Products (ETPs) through its fintech brand Truth.Fi.
This agreement represents further progress following the signing of a non-binding agreement by the three parties in March of this year.
According to the press release, these ETFs will be issued through Crypto.com’s broker, Foris Capital US LLC, and are expected to feature digital assets and securities themed around “Made in America,” encompassing various industries such as energy. If approved by regulatory authorities, these funds are anticipated to launch later this year and will be widely listed on existing platforms and brokerages in the U.S., Europe, Asia, and other regions.
Additionally, the ETFs launched in collaboration among the three parties will be synchronized with a series of individually managed accounts (SMAs) under Truth.Fi. These products are all part of TMTG’s financial services and fintech strategy, with TMTG planning to invest its cash reserves up to $250 million, which will be custodied by Charles Schwab.
Following the announcement, the cryptocurrency CRO from the Crypto.com blockchain ecosystem Cronos surged by over 10%, with the trading price of CRO reaching $0.898 before this article was published.
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