If approved, the deal will position Trump Media as a player in the growing crypto investment sector alongside Wall Street firms
Trump Media & Technology Group (TMTG) has signed a non-binding agreement with Crypto.com to launch a series of crypto-backed exchange-traded funds (ETFs), with plans for a global rollout later this year.
The media company behind Donald Trump’s Truth Social platform announced the deal on Monday, stating that the investment products will combine digital assets and traditional securities under the “America-First” branding.
Crypto.com CEO Kris Marszalek called the partnership a “significant milestone” for Crypto.com’s expansion, highlighting its strategic significance in a post on X.
Marszalek further emphasized Crypto.com’s role in powering the ETFs, stating in an official statement that the 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 our more than 140 million users around the world,” he added.
The Singapore-based crypto exchange confirmed the deal on X, highlighting that the ETFs would feature a unique basket of digital assets.
Crypto.com to handle custody, infrastructure, and token supply of ETFs
Under the agreement, Crypto.com will manage the backend technology, custody services, and supply the cryptocurrencies for the ETFs. These funds may include Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP, and Crypto.com’s native Cronos (CRO) token.
To facilitate trading and distribution, the ETFs will be offered through Crypto.com’s U.S. broker-dealer, Foris Capital US LLC, and made available on TMTG’s newly launched financial platform, Truth.Fi.
The company stated that once approved, “the funds are expected to be widely available internationally, including in the United States, Europe, and Asia, across existing platforms and brokerages”.
This expansion into financial products marks a significant shift for Trump Media, which has primarily operated in the social media sector.
Could this be a game-changer for crypto ETFs?
The partnership comes as demand for crypto-backed ETFs grows. Since the SEC approved spot Bitcoin ETFs in early 2024, billions have flowed into the market, fueling interest in digital asset funds.
Crypto.com’s CRO token surged nearly 30% to $0.10 after the announcement, while Trump Media stock jumped over 9% in after-hours trading, according to CoinMaketCap.
Despite the excitement, regulatory approval remains uncertain. Lawmakers have already raised concerns over Trump’s crypto ventures, including his ties to the $TRUMP memecoin.
In February, the MEME Act was introduced to prevent federal officials from profiting off digital assets, signaling increased scrutiny from Washington.
With Trump-backed crypto projects drawing political pushback, the ETF deal could face similar resistance.
If regulators delay or reject approval, it may set a precedent for tighter oversight of crypto funds linked to public figures.
