- Trump Media and crypto.com have entered a non-binding agreement to launch multiple ETFs later this year, focusing on “Made in America” assets.
- The ETFs will include various cryptocurrencies such as Bitcoin, Ether, and Solana, with Crypto.com providing infrastructure and custody services.
- This venture adds to Donald Trump‘s growing portfolio of crypto-related businesses, which have drawn criticism from Democratic lawmakers for potential conflicts of interest.
Trump Media and Crypto.com have signed a non-binding agreement to develop a series of exchange-traded funds (ETFs) in the United States, according to a March 24 announcement. The collaboration also involves Trump Technology Group Corp (TMTG), which operates Truth Social and the fintech brand Truth.Fi, though the agreement remains subject to regulatory approval.
The partners aim to introduce these ETFs to the market later in the year through Foris Capital US LLC, Crypto.com’s broker-dealer subsidiary. These investment vehicles will feature digital assets and securities with an emphasis on “Made in America” holdings, expanding cryptocurrency investment options for retail investors.
Under the proposed arrangement, Crypto.com will deliver both infrastructure and custody services for the cryptocurrencies included in the ETFs. The funds may incorporate a diverse basket of tokens including Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP (XRP), and Cronos (CRO), Crypto.com’s native token.
“Once launched, these ETFs will be available on the Crypto.com App for our more than 140 million users around the world,” said Kris Marszalek, Crypto.com’s co-founder and CEO.
The partners envision international availability for these ETFs across existing brokerage platforms in the United States, Europe, and Asia. Additionally, the ETFs are expected to launch alongside Truth.Fi Separately Managed Accounts (SMAs), in which TMTG plans to invest some of its cash reserves.
This ETF initiative represents another addition to U.S. President Donald Trump’s expanding crypto-related business ventures. However, these connections have attracted scrutiny from Democratic lawmakers who have raised concerns about potential conflicts of interest between Trump’s presidential duties and his organization’s ownership of the crypto platform World Liberty Financial, as well as the Official Trump (TRUMP) memecoin that launched shortly before his inauguration.
House Representative Gerald Connolly recently described the TRUMP token as a “money grab,” alleging that Trump-linked entities have collected over $100 million in trading fees. Similarly, Democrat Maxine Waters criticized Trump’s memecoin on January 20, characterizing it as a rug pull representing the “worst of crypto.”
The ETF partnership with Crypto.com comes amid growing interest in cryptocurrency investments from traditional financial institutions and increasing regulatory attention to digital assets in the United States.
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