Trump Media Brings ‘Made In America’ Crypto ETFs
US President’s media firm sealed a $250-million deal with Crypto.com following his administration’s embrace of digital assets
Trump Media & Technology Group (TMTG) is no longer just a social media play.
The company behind Truth Social has just finalised a $250-million investment partnership with Crypto.com to launch "Made in America" ETFs.
Crypto.com provides the backend technology, custody, and cryptocurrencies
Yorkville America Digital develops the ETFs with an "America First" focus
TMTG leverages Truth.Fi to tap growing demand for crypto products
The market responded quickly, Cronos (CRO), Crypto.com's utility token, jumped 10%.
This is part of a bigger web of events.
Last month, three TMTG executives formed Renatus Tactical Acquisition Corp I — a $179 million Cayman Islands-based Special Purpose Acquisition (SPAC) targeting acquisitions in cryptocurrency and defence.
Read: Trump Media Launches $179M SPAC, Targets Crypto and Defence Deals
The ETF landscape has been buzzing with new entrants.
72 active ETF proposals await SEC approval
Bitcoin ETFs currently dominate 90% of the crypto ETF market
Truth.Fi's offerings will enter an increasingly competitive arena
"The reduced volatility in crypto markets reflects improved infrastructure, today's markets feature sophisticated risk management tools that can absorb even billion-dollar movements,” said Troy Rillo, Yorkville America Digital CEO.
Power Dynamics at Play
Trump holds a majority stake in TMTG worth more than $2 billion
His administration has actively embraced cryptocurrencies
Paul Atkins, his SEC chairman, oversees crypto regulation
The crypto industry contributed significantly to Trump's inauguration fund
"This agreement is a major step forward in diversifying TMTG into financial services and digital assets," said Devin Nunes, TMTG CEO and former congressman who also chairs the newly formed Renatus SPAC.
The ETFs are expected to launch in 2025, pending regulatory approval. Their success will depend largely on whether they can differentiate themselves in an increasingly crowded marketplace.