In brief
- Trump Media & Technology Group will invest up to $250 million in ETFs and separately managed accounts.
- The investment products will track cryptocurrency and energy securities.
- Trump Media is the parent company of President Trump's Truth Social platform.
Trump Media & Technology Group, the parent company of U.S. President Donald Trump’s Truth Social media platform, will invest up to $250 million in exchange-traded funds and in separately managed accounts tracking cryptocurrency and energy securities as part of partnership with Crypto.com, the companies said Tuesday.
Trump Social announced an initial non-binding agreement with Crypto.com on March 24 to offer these products but did not specify any financial figures at the time.
“This agreement is a major step forward in diversifying TMTG into financial services and digital assets,” TMTG CEO and Chairman Devin Nunes said in the statement.
The move comes as the U.S. government has ratcheted back regulation on the crypto industry.
Trump, who founded Trump Media in 2021 and used Truth Social repeatedly to advocate for the crypto industry, has overhauled the Securities and Exchange Commission—the industry’ primary regulator. Earlier this month, the SEC confirmed pro-digital assets regulator Paul Atkins as its chairman, just a few months after several crypto-skeptic commissioners departed the federal agency.
Trump has also signed several executive orders to protect and promote the interests of major crypto industry players, who ranked among the most generous donors to his inauguration fund.
Although Trump has no formal leadership position at Trump Media, he maintains a majority stake in the company. The president’s son, Donald Trump Jr., who told the press last year that he was “heavily involved on the transition” team of his father’s second administration, sits on the board of Trump Media.
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Crypto.com was the second-largest crypto exchange by market share as of December 2024, CoinGecko data shows.
The trading platform’s global reach will facilitate the trading of Trump Media ETFs across the U.S., Europe and Asia, the statement said. ETFs are among the fastest growing investment products with crypto-focused funds over the past 16 months leading a surge in interest.
Edited by James Rubin
