Trump Media and Crypto.com will launch an ETF of digital assets and actions
Trump Media & Technology Group (TMTG) closed a binding agreement to launch a bag quoted in the stock market (ETF) together with Crypto.com, a cryptocurrency exchange.
Through a statement, it was reported that ETFs will include digital assets and actionswith an approach to products from the United States that cover various sectors such as energy.
“They are expected to be launched at the end of the year and are widely available internationally, including the United States, Europe and Asia,” the parties detailed.
The ETFs will be available through Foris Capital US LLC, the brocker of Crypto.com.
It is important to clarify that TMTG is a company founded by Donald Trump, president of the United States, in 2021. His best known product is Truth Social, a platform that was born in response to the content moderation policies of other networks, such as Twitter.
The launch of these ETF is part of the agreement announced between the parties on March 24. As Cryptonotics reported, the alliance establishes that Crypto.com will provide servers, database and the software necessary for services to function correctly.
The exchange also will be in charge of the custody of the ETF through the company Crypto.com Custody Trust Companywhich has all the corresponding certifications.
At that time, Kris Marszalek, co -founder and executive director of Crypto.com, had revealed that there would be a TMTG brand ETF series that comprise digital and non -digital assets, including a cryptocurrency basket, the first in its type.
So far, the Executive only said that The basket will include Cronos (Cro), the native currency of the homonymous network that is administered by the Exchange. It has not yet been revealed what the other assets that ETF will compose.
For this reason, after the statement was disseminated, the CRO quotation shot up and records an increase of more than 11% in the last 24 hours.
At the time of publication, the price of Cro is $ 0.092.
The launch of this ETF adds to the initiatives that link Trump with the ecosystem of digital assets.
One of them is World Liberty Financial (WLFI), a decentralized finance platform (Defi) administered by their children, Eric and Donald Jr. In that list also appears the launch of Official Trump (Trump) and Official Melania Meme (Melania), the president’s memecoins and the first lady of the United States, respectively.
These connections generate suspicions, since Any measure taken from the Presidency could directly or indirectly benefit your projects.
In this context, Scott Melker, a market analyst, warned of Trump’s growing influence on the cryptocurrency market and, in an ironic tone, recommended: “The most rational strategy for the future is simply to buy everything that the Trump family bought.”
