Trump Media & Technology Group Corp (NASDAQ:DJT), US president Donald Trump’s social media firm, announced an agreement with cryptocurrency trading platform Crypto.com to launch exchange-traded funds (ETFs).
Shares of Trump Media jumped almost 8% to about $23 on Tuesday morning.
Trump Media said in a statement that the ETFs will focus on "Made in America" themes, encompassing various sectors including energy, manufacturing, and technology.
These funds will feature a crypto-heavy ETF basket, including Bitcoin, Crypto.com's native Cronos token, and other digital currencies.
The launch is expected later in 2025, pending regulatory approval from the US Securities and Exchange Commission (SEC).
Once approved, the ETFs will be offered globally, including in the US, Europe, and Asia.
"We're excited to join Crypto.com, along with our partner Yorkville America, to launch America First investment products supporting innovative crypto ventures, great American companies, and cutting-edge technologies,” Trump Media CEO Devin Nunes said in a statement.
“We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the US economy, unencumbered by woke nonsense and political posturing.”