Trump Media is doubling down on crypto with a proposed partnership with Crypto.com to launch a series of digital asset-backed ETFs. The move signals a growing fusion between politics, social media, and blockchain finance, even as critics question potential conflicts of interest.
Non-Binding Deal Targets “Made in America” ETFs
According to a March 24 announcement, Trump Media & Technology Group (TMTG), the operator behind Truth Social and Truth.Fi, has signed a non-binding agreement with Crypto.com to explore launching exchange-traded funds (ETFs) in the United States.
The ETFs, expected to roll out later this year, will be issued via Crypto.com’s broker-dealer, Foris Capital US LLC, and include a mix of digital assets and traditional securities. With a patriotic twist, the products will focus on a “Made in America” theme, appealing to nationalist and crypto-savvy investors alike.
Global Availability and Infrastructure Support
Crypto.com will power the backend infrastructure and provide custody services for the digital assets. The ETFs may feature a diversified basket of major cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, and Cronos—Crypto.com’s native token.
CEO Kris Marszalek stated that once approved, the ETFs will be accessible globally, including in the US, Europe, and Asia, through mainstream brokerage platforms and the Crypto.com app, which boasts over 140 million users.
Additionally, a slate of Truth.Fi Separately Managed Accounts (SMAs) is in the works. Trump Media plans to invest part of its cash reserves into these accounts, aiming to expand its fintech presence.
Political Tensions and Ethical Concerns
The ETF initiative is the latest in a string of crypto-linked ventures associated with Donald Trump, following the launch of World Liberty Financial (WLFI) and the controversial TRUMP memecoin, which dropped just three days before his inauguration.
Democrats have raised red flags over potential conflicts of interest between Trump’s presidential role and his business interests. House Representative Gerald Connolly slammed the TRUMP token as a “money grab,” alleging it helped Trump-affiliated entities earn over $100 million in trading fees.
Meanwhile, Representative Maxine Waters dubbed the memecoin a “rug pull”, accusing it of showcasing the “worst of crypto.”
A High-Stakes Crypto Crossover
Whether the ETFs take off or face regulatory hurdles, Trump Media’s move further entrenches political figures into the crypto arena. Supporters say it could boost mainstream adoption and diversify investment options. Detractors argue it blends financial ambition with political influence, a mix that could destabilise public trust.
As regulatory bodies review the proposal, the crypto world watches closely. Will this partnership bring legitimacy and scale to crypto ETFs, or will it deepen concerns about the merging of politics and decentralised finance? Only time will tell.
