Crypto.com and Trump Media agree on preliminary terms to establish Exchange-Traded Funds (ETFs)

In a significant move, Trump Media & Technology Group Corp. (TMGTG) has signed a non-binding agreement with Crypto.com to develop a lineup of exchange-traded funds (ETFs) and exchange-traded products (ETPs) under the Truth.Fi brand. This development further solidifies President Trump's growing involvement in the cryptocurrency sector.

According to TMGTG CEO and Chairman Devin Nunes, the goal is to create "innovative funds" that feature companies focused on fast-paced growth, technological advancements, and bolstering the U.S. economy. These ETFs will be available on the Crypto.com App, reaching more than 140 million users worldwide.

Among the upcoming ETFs will be a first-of-its-kind basket of digital assets, featuring CRO, the native token of the Cronos blockchain. Crypto.com will handle the backend technology and custody services for the new range of ETFs through its U.S. trust entity, Crypto.com Custody Trust Company.

Investors will be able to purchase the ETFs via Foris Capital US LLC, Crypto.com's registered broker-dealer. The funds will also be available through existing platforms and brokerage services.

The potential launch of these ETFs may blur the lines between former President Trump's political role and public office. Critics have raised concerns over potential conflicts of interest, particularly given Trump's ownership of the crypto platform World Liberty Financial and his association with the Official Trump (TRUMP) meme coin, which was launched just three days before his inauguration.

It is important to note that readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions. The article provides information for informational purposes only and should not be construed as financial advice.

The launch of these ETFs will coincide with a series of Truth.Fi Separately Managed Accounts (SMAs). Once launched, the funds will be accessible across major global markets, including the United States, Europe, and Asia.

This collaboration between TMGTG and Crypto.com marks a significant step forward in the intersection of politics and cryptocurrency. As the rollout of the ETFs is scheduled for later this year, pending a finalized agreement and regulatory approval, it will be interesting to see how this development unfolds.