President Donald Trump’s media company, in collaboration with Crypto.com, is set to introduce a series of digital asset exchange-traded funds (ETFs).
These ETFs will be launched through Trump Media and Technology Group’s fintech brand, Truth.Fi, in partnership with Crypto.com’s broker-dealer Foris Capital.
The focus of the ETFs will be on “Made in America” and will include a variety of crypto assets such as Bitcoin (BTC) and Cronos (CRO), among others, as outlined in a recent press release.
CRO, the native asset of the Cronos blockchain developed by Crypto.com, saw a significant surge of almost 30% following the announcement of the partnership and is currently trading at $0.106.
At the time of writing, Bitcoin is trading at $88,121, maintaining a sideways movement in the past day.
Trump Media is aiming to debut the ETFs later this year, subject to regulatory approval and a finalized agreement.
Crypto.com’s CEO Kris Marszalek mentioned that the ETFs will be accessible through the Crypto.com App for over 140 million users globally.
Reports suggest that the CEO had a meeting with Trump in December to explore topics related to the crypto industry, including the potential establishment of a national Bitcoin (BTC) reserve.
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