Key Takeaways
- Trump Media is teaming up with Crypto.com and Yorkville America Digital to offer exchange-traded funds.
- The ETFs will combine digital assets and “securities with a Made in America focus.”
- They will be available through Foris Capital, Crypto.com’s registered securities broker-dealer.
Trump Media is partnering with Crypto.com and Yorkville America Digital to offer “America-First” exchange-traded funds (ETFs).
In a joint statement, the companies said the proposed ETFs would hold digital assets and securities “with a Made in America focus.”
Trump Media Branches Out into Investments
While Donald Trump’s wider business empire has a track record of launching crypto products, the latest venture marks a first for Trump Media, which operates Truth Social.
According to the press release, the ETFs would be available through Foris Capital, Crypto.com’s registered securities broker-dealer.
Another Crypto ETF?
On its LinkedIn page, Foris Capital states that it “does not engage in the sale, transfer or custody of cryptocurrencies or digital assets.”
Nevertheless, the latest announcement invites speculation that it could embrace Bitcoin or Ethereum, which are both approved for ETF portfolios by the Securities and Exchange Commission (SEC).
To date, the SEC hasn’t approved any mixed ETFs that hold both crypto and traditional securities.
However, the companies stated that the proposed new funds “are expected to comprise digital assets as well as securities with a Made in America focus spanning diverse industries such as energy. ”
James Morales is CCN’s blockchain and crypto policy reporter. He has been working in the news media since 2020, writing about topics such as payments, banking and financial technology. These days, he likes to explore the latest blockchain innovations and the evolving landscape of global crypto regulation.
With an educational background in social anthropology and media studies, James uses his platform as a journalist to explore how new technologies work, why they matter and how they might shape our future.
