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Trump’s Truth Social Eyes Wall Street With Crypto ETF Gambit
- Trump Media and Technology Group (TMTG) have announced they have signed an agreement with Crypto.com to launch several ETFs.
- The ETFs will be launched through TruthFi, the FinTech arm of TMTG.
- Trump’s sons Eric Trump and Donald Trump Jr have also created a company to merge with an existing crypto mining company. The venture is called American Bitcoin.
- The existing mining company Hut 8, had ties to investors with a history of an illegal penny-stock operation dubbed a ‘pump and dump’.
Trump Media and Technology Group have now officially signed an agreement with Crypto.com regarding the launch of several ETFs. The ETFs pertain to both cryptocurrencies and the energy sector.
The partnership was announced last month with what was then a non-binding agreement, but the agreement has now officially been signed.
Crypto.com is the leading platform to bridge crypto and traditional finance, and this agreement is a testament to those capabilities.
Kris Marszalek, Co-Founder and CEO of Crypto.com. Related: Trump Media Teams up With Crypto.com for ‘Made in America’ ETFs
Further ETF Details
Apart from Crypto.com, another key partner of TMTG’s to enable the ETFs is Yorkville America Digital, an asset management firm with a US focus.
This agreement is a major step forward in diversifying TMTG into financial services and digital assets. We’re gratified to work with great partners, Crypto.com and Yorkville America Digital, and look forward to bringing ETFs to the market for investors who believe both the American economy and digital assets are poised for tremendous growth.
Devin Nunes, CEO and Chairman of TMTG. The ETFs are to be made available through Crypto.com’s broker dealer Foris Capital US LLC. The ETFs are expected to launch towards the end of 2025 and to be available internationally, including in the US, Asia, and Europe.
Related: Despite Tariff Turmoil, Analysts Make Bullish Case for Bitcoin, Predict Rally Above US$100k Soon
The Trumps Explore Bitcoin Mining
With the Trump family’s continued expansion into the crypto industry, Eric Trump and Donald Trump Jr have created a new crypto mining venture named American Bitcoin, by merging their new company with existing Bitcoin mining company Hut 8.
Eric Trump has been named as the Chief Strategy Officer of American Bitcoin.
I think the Hut 8 guys are phenomenal… They can get projects done in half the time of other builders. It’s one of the things that really attracted me to them.
Eric Trump, Chief Strategy Officer of American Bitcoin. The Controversy
Hut 8 bought another miner company named US Bitcoin several years ago, which had financial backers reportedly involved in an illegal penny stock operation. The issue was settled with fines in court without the admission of wrongdoing.
A Hut 8 spokesperson has previously mentioned that the incident involved a small number of investors and that these investors did not hold leadership roles or governance responsibilities in the running of the business.
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Author
Matthew Sell
Matthew is an avid writer with a wealth of experience in the blockchain and FinTech industries. Matthew has also honed his writing skills through his tertiary studies in creative writing at the University of Oxford.
