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Trump Media and Technology Group Corp. and Crypto.com have signed a non-binding agreement to launch a series of ETFs (exchange-traded funds) in the US, sending the crypto exchange’s native token CRO soaring over 34%.
Along with the increase in CRO’s price, 24-hour trading volumes for the altcoin spiked more than 1,286%, according to CoinMarketCap data.
Trump Media And Crypto.com ETFs Will Be Available Internationally
According to a March 24 statement from Trump Media, which operates Truth Social and Truth.Fi, the ETFs are targeted for launch later this year.
They will be available through Foris Capital US LLC, which is Crypto.com’s broker-dealer, and open to investors in the US, Europe and Asia if regulatory approval is attained, the statement added.
Proud to partner with @realdonaldtrump’s Truth Social on a series of ETFs, including the world’s first ETF with $CRO https://t.co/OqWl1K1o8v
— Kris | Crypto.com (@kris) March 24, 2025
As part of the agreement, Crypto.com will provide the infrastructure and custody services for the ETFs, as well as supply cryptos that are “made in America” for the funds.
The basket of digital assets may include crypto market leaders Bitcoin (BTC) and Ethereum (ETH). Smaller altcoins such as XRP, Solana (SOL) and Cronos (CRO) could also be included in the ETFs.
Crypto.com CEO Kris Marszalek said in the statement that the ETFs “will be available on the Crypto.com App” for the exchange’s “more than 140 million users around the world.”
The ETFs are also planned to launch alongside an array of “Truth.Fi Separately Managed Accounts (SMAs),” the statement added. TMTG is planning to invest in both the ETFs and SMAs using its own cash reserves.
Trump Media Stock Jumps On Crypto.com Partnership News
In addition to CRO’s price responding positively to the announcement, Trump Media & Technology Group Corp rose in the last 24 hours as well.
Data from Google Finance shows that the share price for the company’s stock jumped over 3% in yesterday’s trading session. Since yesterday’s close, investors have continued to buy the stock, leading to a nearly 11% gain in pre-market trading today.
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