Trump Media & Technology Group (TMTG), the parent company of Truth Social, has finalized a binding agreement with Crypto.com and Yorkville America Digital to launch a series of ETFs under the Truth.Fi brand. This move signifies TMTG's expansion into the fintech sector, allocating up to $250 million of its cash reserves to these ETFs.
The ETFs will focus on digital assets and securities with a "Made in America" emphasis, covering various industries, including energy. Subject to regulatory approval, the funds are expected to launch later this year and will be available in the U.S., Europe, and Asia. Crypto.com's broker-dealer, Foris Capital US, will facilitate the availability of these ETFs, with Davis Polk & Wardwell advising on the product development and launch.
This agreement builds upon TMTG's recent launch of Truth Social-branded separately managed accounts (SMAs) in partnership with Yorkville America Equities and Index Technologies Group. These SMAs offer investment strategies focused on themes like "Faith & Values," "Liberty & Security," "Energy Independence," and "Made in America."