On April 22, U.S. President Donald Trump’s social media firm, Trump Media & Technology Group, announced a binding agreement to introduce a range of retail investment products, including cryptocurrency offerings, as part of its strategy to diversify into financial services.
The plan includes the launch of exchange-traded funds (ETFs) that align with Trump’s America First policies. This move follows a preliminary agreement reached last month between Trump Media and Crypto.com, a digital asset platform with connections to broker-dealer Foris LLC, and Yorkville America Digital, a New Jersey-based asset management firm.
These financial products are expected to launch later this year, pending regulatory approval. The ETFs will be available in the U.S. and internationally. However, no ETF filings have been submitted to the Securities and Exchange Commission (SEC) as of yet.
Devin Nunes, CEO of Trump Media, expressed enthusiasm in a press release, stating that the company looks forward to providing ETFs to investors who believe in the growth potential of both the American economy and digital assets.
In related news, Crypto.com recently announced that the SEC had closed its 2024 investigation into the platform, confirming that no enforcement action would be taken against the company.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/trump-media-accelerates-shift-to-crypto-with-new-etf-launch-plans/