President Donald Trump's media company has signed a non-binding agreement to partner with Crypto.com in offering exchange-traded funds.
Trump Media and Technology Group, which runs Trump's social media platform, Truth Social, announced the partnership Monday.
The announcement noted that the ETFs would offer investors exposure to cryptocurrencies like Bitcoin, Cronos, and "diverse industries such as energy."
TMTG CEO and Chairman Devin Nunes said that it was looking “to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy."
The firm did not immediately respond to Decrypt's questions.
Crypto.com offers customers a digital asset trading platform. It also launched a debit card which allows clients to spend crypto and earn rewards.
The company added in Monday's announcement that once launched, the ETFs would be available on the Crypto.com app.
ETFs are popular investment vehicles that trade on stock exchanges and give investors exposure to an underlying asset. The SEC gave the green light to Bitcoin ETFs last year, leading to a flood of capital into the space. The 11 funds currently trading now manage about $100 million in assets. Ethereum-focused funds have generated about $2.5 billion net inflows.
Trump Crypto Project World Liberty Launches Stablecoin on Ethereum, BNB Chain
President Donald Trump’s decentralized finance project World Liberty Financial has launched its own stablecoin on both Ethereum and Binance’s BNB Chain, according to on-chain data. The launch of the token, called USD1, marks the culmination of a plan that has been in the works for some months. Decrypt previously reported in October that the Trump family and its business partners were planning to issue a stablecoin—but, at the time, they were still working out issues related to the safety and le...
The success of these funds has prompted major asset managers to file a range of ETFs tracking altcoins, including Litecoin, Dogecoin, Cardano and Solana.
Ahead of his November victory, President Trump promised to help the crypto industry and slash regulation. A number of industry leaders donated heavily to the Trump presidential campaign.
He has so far stuck to many of his campaign-trail promises, including establishing a Bitcoin strategic reserve.
Decrypt reported Monday that the President Trump-backed decentralized finance project World Liberty Financial had launched its own stablecoin.
Edited by James Rubin
UPDATE (March 24, 2025, 6:38 p.m. ET): Adds Nunes quote and background.
