MW Trump Media's next move is to launch ETFs alongside a crypto partner
By James Rogers
Trump Media and Crypto.com will offer 'Made in America' ETFs later this year
Trump Media & Technology Group Corp., which operates President Donald Trump's social-media platform Truth Social, is working with Crypto.com to offer "Made in America" ETFs, as the world of politics extends its reach further into the world of cryptocurrency.
Trump has repeatedly touted his crypto-friendly credentials and is working on his campaign promise to establish a strategic bitcoin (BTCUSD) reserve, as well as a U.S. Digital Asset Stockpile consisting of cryptocurrencies other than bitcoin. The president has also vowed to make the U.S. "the crypto capital of the world." Underlining his links to the crypto world, Trump also launched his Trump Coin (TRUMPUSD) earlier this year.
Shares of Trump Media & Technology Group $(DJT)$ are up 8.7% in premarket trades, putting the stock on pace for its biggest daily percentage gain since Jan. 13, 2025, when it rose 21.5%.
Related: Here's how Tesla, 'DJT' and other Trump trades have fared since the inauguration
Crypto.com, which is based in Singapore, describes itself as America's premier crypto trading platform. The company's U.S. headquarters is in Tyler, Texas.
The ETFs, which will be made available through Crypto.com's broker-dealer Foris Capital LLC, will comprise digital assets and securities with a "Made in America" focus, according to Trump Media, and encompass industries such as energy. Crypto.com will support the back-end technology, provide custody, and supply the cryptocurrencies for the ETFs. The ETFs are expected to include "a unique ETF basket of cryptocurrencies" incorporating bitcoin and Cronos, as well as other crypto assets, Trump Media said in a statement.
The ETFs will launch later this year, according to Trump Media.
"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 & Technology Group Chief Executive Devin Nunes said in a statement. "Investors will finally have options that adhere to their principles and that support superior U.S. companies precisely focused on their core businesses."
Related: Stocks have never been so political as Howard Lutnick says buy Tesla and Tim Walz says sell
In addition to the ETFs, Trump Media will launch a slate of Separately Managed Accounts, or SMAs, from Trump Media's Truth.Fi fintech business later this year. SMAs can comprise stocks, bonds and other instruments, but differ from ETFs in that investors own shares in the constituent parts of the investment, as opposed to owning shares in an overall fund.
Trump Media plans to invest in the ETFs and SMAs via its own cash reserves, the company said, noting that this is part of an up to $250 million financial services and fintech strategy custodied by Charles Schwab Corp. $(SCHW)$.
Crypto plays such as Robinhood Markets Inc. (HOOD), Coinbase Global Inc. $(COIN)$, and Strategy, formerly MicroStrategy Inc. (MSTR), have come to be regarded as "Trump trades," along with, obviously, Trump Media itself and Tesla Inc. $(TSLA)$, which is led by key Trump ally and senior adviser Elon Musk.
Related: Trump's 'DJT' stock falls for seventh straight trading session
The nation's political battleground shifted to the stock market last week when Commerce Secretary Howard Lutnick urged people to buy shares of Tesla Inc., while Minnesota Gov. Tim Walz mocked the electric-vehicle giant's share-price drop.
Trump Media shares have fallen 38.4% in 2025, while the S&P 500 SPX has fallen 1.9%.
-James Rogers
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(END) Dow Jones Newswires
March 25, 2025 08:33 ET (12:33 GMT)
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