Trump Media &Technology Group (DJT), the social media firm back by U.S. President Donald Trump, has struck a deal with Crypto.com to launch a series of exchange-traded funds (ETFs).
The media company, which runs the “Truth Social” platform, has fallen nearly 40% this year despite Trump’s return to the White House.
In a news release, Trump Media said the ETFs will have a “Made in America” focus and will launch later this year, subject to regulatory approval.
The ETFs will be managed by Crypto.com and are President Trump’s latest foray into the realm of cryptocurrencies.
On the eve of his inauguration in January, Trump and his family introduced several non-fungible tokens (NFTs) and meme coins depicting the president and his wife Melania.
Trump has also announced plans to start his own crypto bank while back in office as the U.S. president.
Trump is the majority owner of Trump Media & Technology Group, which has a market capitalization of $4.6 billion U.S. and whose ticker symbol is the president’s initials.
Trump Media has struggled since its launch, losing a reported $400 million U.S. in 2024 while taking in less than $4 million U.S. in revenue.
Much of the work in bringing the new ETFs to market will be borne by Crypto.com. Trump is licensing his name and brand to the cryptocurrency trading vehicles.
The new crypto ETFs will be marketed under Trump Media’s newly launched financial technology brand, Truth.Fi.
The new ETFs are expected to focus on Bitcoin (BTC) and Cronos, which is the native token of Crypto.com.
The ETFs will be available through the Crypto.com app, which claims to have 140 million users worldwide.
Trump Media’s stock is currently trading at $21 U.S. per share.
