Trump Media & Technology Group has signed a deal with Crypto.com
$3.78B
and asset manager Yorkville America Digital to create exchange-traded funds (ETFs) focused on American-made assets.
These ETFs will include both digital assets and traditional financial products tied to industries like energy. The goal is to highlight investments connected to the US economy.
The ETFs will be introduced through Truth.Fi, Trump Media’s decentralized finance (DeFi) branch. They will be offered through Crypto.com’s licensed broker-dealer, Foris Capital, and are expected to become available sometime in 2025, once regulatory approvals are secured.
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While this agreement is now official, the idea was first introduced in March, when the parties signed a non-binding version of the deal.
As part of the plan, Trump Media will use part of its own cash to help fund the ETFs. According to the January 29 announcement, the company placed $250 million in reserve with Charles Schwab. Some of this money will now be used to support the launch of these new investment products.
In addition to the ETFs, Truth.Fi will also offer customized investment accounts for those looking for more tailored options.
Furthermore, the law firm Davis Polk will help guide the legal process and prepare the necessary documents for the launch.
Recently, BlackRock introduced a new exchange-traded product (ETP) across several major European stock exchanges. What is it? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
