Trump Media & Technology Group (TMTG), the parent company of former U.S. President Donald Trump’s social network Truth Social, plans to launch a crypto ETF in collaboration with Crypto.com and Yorkville America Digital.
The partners aim to release products under the Truth.Fi brand by the end of the year, pending regulatory approval. TMTG will invest up to $250 million of its own funds into the funds and managed accounts.
Distribution will be handled by Crypto.com through the broker Foris Capital US LLC. Once launched, the products will be available to investors in the U.S., Europe, and Asia.
TMTG CEO Devin Nunes stated that the agreement will help the company expand its presence in financial services and digital assets.
Crypto.com CEO Kris Marszalek noted that the agreement highlights the platform’s ability to act as a bridge between cryptocurrencies and TradFi.
Yorkville America Digital also sees strategic opportunities in the project. The firm expects the funds to attract significant interest due to their focus on the American economy and digital assets.
In addition to the ETF, TMTG is preparing investment accounts managed by Truth.Fi and plans to invest up to $250 million of its own funds through Charles Schwab.
Earlier in April, the SEC officially appointed Trump’s nominee Paul Atkins as its head. He has identified the creation of a clear and understandable regulatory framework for digital assets as a priority.