The post Trump Media Teams Up with Crypto.com to Launch ETFs and ETPs appeared first on Coinpedia Fintech News
Trump Media, the parent company of Truth Social, has teamed up with Crypto.com to launch a series of ETFs and ETPs. These products will include digital assets like Bitcoin (BTC) and Crypto.com Coin (CRO), along with other securities focused on American industries, such as energy. The launch is expected later this year, pending regulatory approval.
Crypto.com will provide the backend technology, custody solutions, and crypto supply. Notably, this is just the latest in a series of crypto projects backed by Trump and his family. They’ve released several NFT collections, memecoins, and even their own DeFi protocol, World Liberty Financial (WLFI).
The funds are expected to launch later this year, pending approval, and are expected to be available worldwide, including in the U.S., Europe, and Asia, through existing platforms and brokerages.
Despite challenges, Cronos climbed over 18% due to market excitement and momentum. In December, Cronos hit a yearly high after reports of a meeting between the Crypto.com CEO and the U.S. President, along with a legal resolution with the SEC. However, CRO has since dropped 30%. Today’s news has brought new liquidity to the altcoin.
TMTG CEO Devin Nunes expressed excitement about partnering with Crypto.com and Yorkville America to launch investment products that focus on supporting American businesses, innovative technologies, and crypto ventures. These funds aim to strengthen the U.S. economy without being influenced by political agendas.
Kris Marszalek, co-founder and CEO of Crypto.com, shared that he is proud of the partnership and excited to support the launch of these new ETFs, including the first-of-its-kind basket of tokens, featuring CRO.
The ETFs will launch alongside Truth.Fi Separately Managed Accounts (SMAs). Both the ETFs and SMAs are part of TMTG’s financial services strategy, with TMTG planning to invest up to $250 million, managed by Charles Schwab.
However, A Cronos ETF could be the biggest political crypto scandal since the TRUMP token. U.S. Presidents are not supposed to be involved in private business, especially with foreigners.
Could Trump’s firm get the SEC’s top approval? Would it harm the Commission’s credibility?
