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Trump Media Partners with Crypto.com to Launch ETFs Through Truth.Fi

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Trump Media & Technology Group, the company behind the Truth Social platform, announced on Monday that it has partnered with Crypto.com to launch exchange-traded funds (ETFs) and related products under its Truth.Fi brand. This collaboration is aimed at offering financial products that include both digital assets and traditional securities with a “Made in America” focus.

Following the announcement, Trump Media’s shares rose 10.5% in after-hours trading, though the company’s stock has fallen 38% over the past three months.

The ETFs, which will be available through Crypto.com’s broker-dealer Foris Capital, are expected to include cryptocurrencies like bitcoin and cronos, alongside securities from various industries. These funds are slated for launch later this year and will be offered in the U.S., Europe, and Asia.

Crypto.com will provide key infrastructure, including backend technology, custody services, and cryptocurrency support for the ETFs.

The partnership follows the January launch of Trump Media’s Truth.Fi brand, signaling the company’s expansion into financial services and fintech, particularly in the cryptocurrency space. Trump Media had previously announced plans to invest up to $250 million through Charles Schwab to diversify its cash holdings, which stood at over $700 million at the end of 2024. This new venture includes investments in ETFs, separately managed accounts, and cryptocurrencies.

Trump Media also revealed in February that it has applied for trademarks for several investment products, including the Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF, and Truth.Fi U.S. Energy Independence ETF, which focus on sectors like bitcoin, U.S. manufacturing, and energy.

Trump Media Expands into FinTech with Truth.Fi Amid Crypto Surge

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Truth Social’s parent company, Trump Media and Technology Group (TMTG), has announced the launch of Truth.Fi, a financial services and FinTech brand, as it seeks to capitalize on the booming cryptocurrency market.

Key Highlights:

  • Truth.Fi Launch & Market Reaction:
    • TMTG’s board has approved the launch of Truth.Fi, expanding its financial services footprint.
    • The announcement sent shares soaring over 11% in early trading.
  • Investment Strategy:
    • The board authorized a $250 million investment through Charles Schwab to diversify cash holdings.
    • Assets will be allocated across ETFs, separately managed accounts (SMAs), Bitcoin, and other cryptocurrencies.
  • Political & Market Context:
    • The move follows Donald Trump’s return to the White House and the election of pro-crypto lawmakers.
    • Trump has championed digital assets, aiming to establish the U.S. as the “crypto capital of the planet.”
  • Implementation & Future Plans:
    • SMAs will be developed with Charles Schwab, which will advise on investment strategy.
    • Truth.Fi products and services are set to roll out in 2025, pending regulatory approvals.
  • Expanding Business Ventures:
    • TMTG has also entered the streaming industry with Truth+ Streaming, launched last year.
    • The company reported a $19 million Q3 loss in 2023, attributed to legal fees and streaming costs.

TMTG’s move into FinTech and cryptocurrency aligns with its broader strategy of leveraging political momentum to expand its digital footprint.