In a press release earlier this week, Trump Media made a forward looking statement announcing its intention to pursue a partnership with Crypto.com to launch a series of exchange-traded funds and exchange-traded products.
The announcement follows the recent narrative by Crypto.com leadership on contributing to make America the crypto capital of the world and has thus been dubbed “America-first investments”.
What We Know:
The Agreement: Trump Media and Technology Group Corp, operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, has signed a non-binding agreement with world’s top four ranked exchange Crypto.Com.
Roles: The ETFs will be launched through the Truth.Fi brand. Crypto.com’s broker dealer Foris Capital US LLC will make the ETFs available while Crypto.com itself will support the backend technology, provide custody, and supply the cryptocurrencies for the ETFs.
ETFs: The ETFs will have both digital assets including cryptocurrencies like Bitcoin and Cronos as well as securities with a Made in America focus from across diverse industries.
Timeline and Geography: Subject to definitive agreement and regulatory approval, the funds will be launched in 2025 and be available internationally across United States, Europe, and Asia, through various existing platforms
What They Said: Truth.Fi
“We’re excited to join Crypto.com, along with our partner Yorkville America, to launch America First investment products supporting innovative crypto ventures, great American companies, and cutting-edge technologies,” TMTG CEO and Chairman Devin Nunes said.
He further added that the vision was to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy. This will provide investors the option to invest in companies that adhere to their principles, the exec explained.
What They Said: Crypto.com
“We are proud to partner with Truth Social (DJT) and Yorkville America, and to support the launch of these new ETFs, including the first of its kind basket of tokens including CRO,“ Kris Marszalek, co-founder and CEO of Crypto.com, said.
These ETFs will give consumers more options from a brand with a loyal following. Once launched, these ETFs will be available on the Crypto.com App for more than 140 million users around the world, he explained.
What This Means for CRO:
Explicit mention of CRO’s inclusion in the new ETF’s can mean mainstream investment exposure for Cronos, enhancing not only utility and visibility on Truth.Fi ecosystem but also institutional demand.
Further, being part of an “America-first” brand, increases national and political relevance. This aligns with Crypto.com’s recent push – such as the creation of the Cronos Strategic Reserve. It also allows for CRO to have a shot at expanding beyond crypto-native users.
