Trump Media to Work with Crypto.com to Offer ETFs

By Katherine HamiltonTrump Media and Technology Group signed a non-binding agreement with Crypto.com to launch exchange-traded funds and products on its financial services platform.The operator of Truth Social, which is about 58%-owned by President Trump, plans to offer digital assets and securities "with a Made in America focus," it said Monday.Crypto.com's broker dealer Foris Capital will make the ETFs available, it said. Crypto.com will support the backend technology, provide custody and supply cryptocurrencies for the ETFs. It also plans to offer an ETF basket of cryptocurrencies including Bitcoin, Cronos and other assets.The launch is scheduled for later this year subject to regulatory approval, Trump Media said."We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy, unencumbered by woke nonsense and political posturing," Trump Media Chief Executive Devin Nunes said.The ETFs are expected to be available internationally, and will be accessible on the Crypto.com app once they launch.Write to Katherine Hamilton at [email protected]