President Donald Trump’s media company, Trump Media and Technology Group, is gearing up to launch a series of digital asset exchange-traded funds (ETFs) in collaboration with Crypto.com, a leading cryptocurrency exchange platform. This partnership aims to introduce these ETFs through Truth.Fi, the fintech brand of Trump Media, and Crypto.com’s broker-dealer Foris Capital.
The upcoming ETFs will have a unique “Made in America” focus, showcasing a diverse basket of crypto assets, including popular options like Bitcoin (BTC) and Cronos (CRO). Cronos (CRO) is the native asset of the Cronos blockchain, developed by Crypto.com. Following the announcement of this partnership, CRO experienced a significant surge of almost 30%, currently trading at $0.106. Meanwhile, Bitcoin is holding steady at $88,121, maintaining its position as the top-ranked crypto asset by market cap.
Trump Media plans to officially launch these ETFs later this year, contingent upon regulatory approval and the finalization of a definitive agreement. Crypto.com CEO Kris Marszalek expressed enthusiasm for the partnership, highlighting that the ETFs will be accessible to over 140 million users worldwide through the Crypto.com App.
In a noteworthy development, Marszalek reportedly had a meeting with former President Trump in December to discuss various topics within the crypto industry, including the potential establishment of a national Bitcoin reserve. This strategic collaboration between Trump Media and Crypto.com signifies a significant step towards integrating digital assets into mainstream financial markets.
As the crypto landscape continues to evolve, the introduction of these ETFs represents a notable opportunity for investors to diversify their portfolios with a range of digital assets. With the support of a reputable platform like Crypto.com and the innovative approach of Trump Media, these ETFs are poised to make a meaningful impact on the cryptocurrency market.
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Image Credit: Midjourney.