U.S. President Donald Trump’s media company, Trump Media and Technology Group (TMTG), has announced a partnership with Crypto.com to launch a suite of exchange-traded funds (ETFs) and exchange-traded products (ETPs).
The planned financial products will feature Bitcoin (BTC), Crypto.com’s native Cronos (CRO) token, and other digital assets alongside U.S.-focused securities.
Inside the ETF Plans
In a March 24 press release, Trump Media stated that the ETFs will be managed under its financial services brand, Truth.Fi, while Crypto.com’s broker-dealer, Foris Capital, is facilitating the offering.
The partnership aims to attract investors aligned with President Trump’s economic vision, with TMTG CEO Devin Nunes highlighting its “America First” approach:
“We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy, unencumbered by woke nonsense and political posturing.”
His Crypto.com counterpart Kris Marszalek echoed the sentiment, saying the products, including a first-of-its-kind ETF basket featuring CRO, will give investors “more options.”
Pending regulatory approval, the ETFs will launch in late 2025 and will be available in the U.S., Europe, and Asian markets through brokerages and Crypto.com’s app, which boasts 140 million users globally.
Truth.Fi will also include a slate of Separately Managed Accounts (SMAs) for high-net-worth investors, with the company backing both the SMAs and ETFs with funds from its own cash reserves.
Price Rally Amid Controversy
However, the announcement was not without controversy. Blockchain investigator ZachXBT accused Crypto.com of reissuing 70 billion CRO tokens it claimed to have burned four years ago.
“In 2021, they burned 70B of the CRO supply. Everyone between that time and now bought expecting 30B CRO would be max supply,” the on-chain detective wrote in a post on X. “Now, 1-2 weeks ago, they reissue the 70B CRO burned permanently. I’ve never seen anything like it (from a major company),” he added.
Further, he questioned why Trump Media would collaborate with the exchange rather than established platforms like Coinbase or Kraken.
Despite the concerns raised, CRO surged over 40%, going from $0.0816 to $0.1146 following the ETF news, before settling at $0.1082 at the time of writing. Its 7-day numbers are also in the green, jumping 31.5% to outperform the broader crypto market, which only gained 5.3% in that time.
Nonetheless, the token’s value is still down 25% year over year, and its current price is 88.5% below its all-time high of $0.9654, recorded three years ago.
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