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Trump Media Wants to Partner with Crypto.Com for ETP Issuance
DJT stock is up 9% after hours.
What to know:
- Trump Media is partnering with Crypto.com to launch ETPs and ETFs.
- The investment vehicles, backed by backend technology and custody solutions from Crypto.com, are set to launch in 2025.
- This partnership is the latest in a series of crypto initiatives backed by Trump and his family.
U.S. President Donald Trump's media company, Trump Media (DJT), is looking to partner with crypto exchange Crypto.com to launch a series of exchange-traded products (ETPs) and funds (ETFs), the company said Monday.
The ETPs will include crypto assets and securities from other sectors such as the energy industry, the announcement said. Crypto.com will provide the backend technology, custody solutions, and crypto supply.
STORY CONTINUES BELOW
The investment vehicles are expected to launch in 2025, the press release said.
Trump Media is the company behind Truth Social, the social media platform frequently used by Trump.
This is only the latest of crypto initiatives backed by the President or his family. Trump and his entourage have issued multiple NFT collections and memecoins, not to mention their DeFi protocol, World Liberty Financial (WLFI).
The DJT stock is up more than 9% after-hours since the announcement.
Tom Carreras
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor's degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk's disclosure threshold of $1,000. Updated version of the bio, does it translate?
