Trump Media Surges 9% In After-Hours Trading After Announcing Partnership With Crypto.com To Launch ‘Made In America’-Focused ETFs — CRO Also Rallies
Trump Media and Technology Group Corp. (NASDAQ:DJT) announced a partnership with cryptocurrency exchange Crypto.com Monday to introduce a series of exchange-traded funds.
What Happened: The non-binding agreement will facilitate the launch of ETFs under the Truth.Fi brand, a fintech subsidiary of TMTG, according to a press release. The proposed ETFs, expected to comprise a blend of digital assets and securities with a ‘Made in America’ emphasis, will be accessible via Crypto.com’s broker-dealer, Foris Capital US LLC.
The Singapore-based cryptocurrency firm would manage the backend technology, custody, and supply of cryptocurrencies for the ETFs. The ETFs, expected to debut later this year, would feature a basket of cryptocurrencies, including Bitcoin (CRYPTO: BTC), Crypto.com’s native cryptocurrency Cronos (CRYPTO: CRO), and others.
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