Trump Media Stock Surges on Plan to Work With Crypto.com to Offer ETFs

• Trump Media & Technology Group is partnering with Crypto.com to offer exchange-traded funds to investors.

• The ETFs are expected to be made up of cryptocurrencies and securities with a “Made in America” focus.

• The plan is set to launch later this year.

Shares of Trump Media & Technology Group (DJT) surged 9% Tuesday, a day after President Donald Trump’s social media firm teamed with cryptocurrency trading platform Crypto.com to offer exchange-traded funds (ETFs).

The operator of the Truth Social site, the Truth+ streaming platform, and Truth.Fi financial technology brand announced that the products would be launched later this year through Truth.Fi.

The agreement calls for the ETFs to be made available through Crypto.com’s broker dealer Foris Capital US LLC, and “are expected to comprise digital assets as well as securities with a Made in America focus spanning diverse industries such as energy.” Trump Media said the offerings are to include “a unique ETF basket of cryptocurrencies incorporating Bitcoin, Cronos, and other crypto assets.”

Trump Media CEO Devin Nunes explained that the aim is “to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy.”

Even with today’s gains, Trump Media & Technology Group shares have lost a third of their value this year.

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