Trump Media partners with Crypto.com to launch new ETFs focusing on digital assets and US industries, shares surge 9%
From Yahoo Finance: 2025-03-25 12:13:00
Trump Media, parent company of Truth Social, partners with Crypto.com to launch ETFs. Shares surge 9.4% after hours. ETFs will focus on digital assets and US industries, pending regulatory approval. Crypto.com to provide tech support, custody, and supply of cryptocurrencies for the investments. Launch expected later this year.
Under partnership, Trump Media plans to sell ETFs via Truth.Fi brand with “Made in America” focus. Devin Nunes, CEO of Trump Media, aims to support US economy without “woke nonsense.” Kris Marszalek, CEO of Crypto.com, touts options from a brand with a loyal following. Trump Media shares close 3.8% higher at $21.01 apiece.
Trump Media posted $400 million in losses last year with a market cap of around $4.6 billion. Trump appointed entrepreneur David Sacks as “crypto czar” after touting crypto on campaign trail. Executive order established strategic bitcoin reserve and digital asset stockpile. Pre-inauguration, Trump launched meme coins $TRUMP and $MELANIA.
Read more: Trump Media is up 9% after a deal to launch new products