PANews reported on April 22 that according to Globenewswire, Trump Media Technology Group (DJT.O) has signed a binding agreement with cryptocurrency trading platform Crypto.com and asset management company Yorkville America Digital to launch a series of ETFs through the Truth.Fi brand. The agreement was reached after a non-binding agreement signed by the companies in March this year. The law firm Davis Polk & Wardwell LLP will provide consulting services to all parties in product development and launch. These ETFs will be offered through Crypto.com's broker-dealer Foris Capital US LLC and are expected to include digital assets and securities with "Made in the USA" features covering diversified industries such as energy. After obtaining regulatory approval, these funds are expected to be launched later this year and will be widely available in international markets including the United States, Europe and Asia, covering existing platforms and brokers.
The ETFs will be launched alongside a series of Truth.Fi Separately Managed Accounts (SMAs). TMTG plans to invest in the ETFs and SMAs from its own cash reserves as part of TMTG’s Financial Services and Fintech strategy, which will use up to $250 million of capital managed by Charles Schwab.
