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Trump Media launches cryptocurrency ETF through Truth.Fi 2023
Trump Media Technology Group has signed a binding agreement with Crypto.com and Yorkville America Digital to launch a series of ETFs under the Truth.Fi brand. This agreement follows the companies signing a non-binding agreement in March. Davis Polk & Wardwell LLP will provide advisory services to all parties in the development and launch of the product.
These ETFs will be provided through Crypto.com's Foris Capital US LLC brokerage and are expected to include digital assets and securities with the characteristic "Made in the USA." These ETFs will cover various industries, including energy. After receiving approval from regulators, these funds are expected to launch this year and gain widespread popularity in international markets including the United States, Europe, and Asia, across existing platforms and brokerages.
In addition, the ETF will be launched alongside a series of Truth.Fi Separate Management Accounts. TMTG plans to invest in ETFs and SMAs from its cash fund as part of its Financial Services and Fintech strategy, utilizing up to 250 million USD managed by Charles Schwab. This content is provided solely for market information purposes and does not constitute investment advice.
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