TrumpMedia & Technology Group (DJT, Financial) has finalized a binding agreement with Crypto.com and Yorkville America Digital to debut a range of exchange-traded funds (ETFs) and exchange-traded products (ETPs) under the Truth.Fi brand. This strategic move follows their initial non-binding agreement from March. Legal advisory for this venture will be provided by Davis Polk & Wardwell.
The upcoming ETFs, facilitated by Crypto.com’s broker dealer, Foris Capital US, will encompass digital assets and securities with a "Made in America" theme, covering sectors such as energy. These financial products are scheduled for an international launch later this year, pending regulatory approvals. They will be accessible across the United States, Europe, and Asia through various platforms and brokerages.
In addition to the ETFs, Truth.Fi will also introduce Separately Managed Accounts (SMAs). TrumpMedia & Technology Group intends to invest in both the ETFs and SMAs using its financial reserves, as part of a broader financial services and FinTech initiative. This strategy, involving an investment pool of up to $250 million, will be managed under the custody of Charles Schwab.
