Crypto.com and Trump Media Partner to Launch Truth.Fi ETFs
- Crypto.com and Trump Media sign deal to launch Truth.Fi ETFs
- ETFs will focus on U.S. digital assets and industries like energy
- Launch to target U.S., European, and Asian markets later this year
Crypto.com and Trump Media have completed an agreement to launch several Truth.Fi ETFs . The partnership represents a major step for Trump Media as it enters the financial services market. Crypto.com will utilize its global platform to distribute these products which focus on digital assets and traditional securities such energy sector investments
The partnership allows Foris Capital US LLC , Crypto.coms broker-dealer, to provide the ETFs to investors. Trump Medias product line includes several funds which fall under the America-First investment approach. The funds will concentrate on energy sector allocations and digital assets,which matches Trump Medias plans to promote U.S. industries and increase cryptocurrency adoption.
Truth.Fi ETFs Targets Global Markets
The launch happens after the two companies signed a non-binding contract in March. The partnership offers several ETF products for international markets such as the U.S., European and Asian markets. The funds will be launched on various platforms and brokerages later this year subject to regulatory approval.
Trump Media plans to deliver its ETFs as well as the Truth.Fi Separately Managed Accounts (SMAs) products. These products are part of the companys financial services and fintech strategy. The firm plans to allocate up to $250 million for these investment products, which will be placed under custody of Charles Schwab.
Trump Media and Crypto.coms Deal Sparks Market Optimism
According to CEO Kris Marszalek, Crypto.com provides a platform which links cryptocurrency with traditional finance. He stated that the partnership demonstrates Crypto.coms capabilities to distribute ETFs across the world.. This collaboration strengthens Crypto.coms position as a market leader in the integration of traditional and digital finance.
In addition, Yorkville America Digital will partner with Crypto.com to provide management for these funds. Yorkvilles CEO, Troy Rillo, expressed his enthusiasm about the partnership and the product launch which is expected to see high market demand. He stated that the venture matches Trump Medias America-First initiatives which demonstrate its dedication to U.S based industries.
Trump Media CEO Devin Nunes expressed confidence about this partnership because it enables the company to expand into digital assets and financial services. He believes the ETF launch will offer investors unique opportunities to profit from the growth of American markets and digital assets.
Read more: https://www.tronweekly.com/crypto-com-partners-with-tmtg-to-launch-etfs/
Text source: TronWeekly
