BofA update shows where active managers are putting money
SARASOTA, Fla. - Trump Media and Technology Group Corp. (NASDAQ:DJT), known for operating the social media platform Truth Social, has announced plans to partner with Crypto.com to introduce a series of exchange-traded funds (ETFs) and products through its financial brand Truth.Fi. These ETFs, which are expected to feature digital assets and securities with a focus on American industries like energy, are slated for launch later in 2025, pending definitive agreements and regulatory approvals. The company’s stock, currently trading at $14,926.1, has shown significant market activity with an average daily volume of 129.57M shares over the past three months, according to InvestingPro data.
The collaboration with Crypto.com, a prominent crypto trading platform, will see the provision of backend technology, custodial services, and a supply of cryptocurrencies for the ETFs. Among the planned offerings is an ETF basket that includes Bitcoin, Cronos, and other crypto assets. The products aim to be accessible internationally, including in the United States, Europe, and Asia. The announcement comes as DJT’s stock has experienced a modest 1.14% gain over the past week, though it remains down 6.1% year-to-date, as tracked by InvestingPro.
TMTG CEO Devin Nunes expressed enthusiasm for the partnership, emphasizing the goal to create funds that support rapid growth and technological innovation while bolstering the U.S. economy. Kris Marszalek, co-founder and CEO of Crypto.com, echoed this sentiment, noting the opportunity for consumers to have more options from a brand with a dedicated following.
In addition to the ETFs, the partnership is set to launch Truth.Fi Separately Managed Accounts (SMAs). Both the ETFs and SMAs are part of TMTG’s financial services and FinTech strategy, with plans to invest up to $250 million from its cash reserves. Charles Schwab has been named as the custodian for these funds.
The announcement comes as part of TMTG’s broader mission to provide alternatives to Big Tech and promote free speech through its various platforms, which also include the streaming service Truth+. The launch of the ETFs and SMAs represents an expansion into the financial services sector, aligning with the company’s "America First" investment philosophy.
Crypto.com, established in 2016, has garnered trust from over 140 million customers and leads in regulatory compliance, security, and privacy within the cryptocurrency industry. The company’s vision is to accelerate cryptocurrency adoption and foster a more equitable digital ecosystem.
This news is based on a press release statement and involves forward-looking statements that are subject to risks, uncertainties, and assumptions. The success of the planned ETFs and SMAs will depend on various factors, including regulatory approval and market conditions. The stock has maintained a trading range between $14,244.06 and $17,845.72 over the past 52 weeks, reflecting the market’s ongoing assessment of the company’s growth initiatives. For deeper insights into DJT’s valuation metrics and growth potential, investors can access additional analysis through InvestingPro.
In other recent news, Trump Media and Technology Group Corp. (TMTG) has announced the launch of the Truth+ app for Roku TV devices, expanding its streaming services. This new offering provides live TV channels and plans to include Video on Demand content soon. TMTG also revealed updates to its Truth Social app, enhancing the Groups feature and adding security measures. In collaboration with Rumble, TMTG is challenging a Brazilian Supreme Court order to suspend Rumble’s operations in Brazil. The companies have filed an emergency motion in a U.S. federal court to contest these orders.
Additionally, TMTG is making strides into the financial services sector with its Truth.Fi brand, filing trademark applications for America First-themed investment products. The company plans to introduce exchange-traded funds and separately managed accounts, partnering with Charles Schwab and Yorkville Advisors for development. TMTG has also partnered with Moov to enhance payment processing for its platforms, aiming to offer flexible payment options and subscription packages for Truth+. These recent developments highlight TMTG’s strategic efforts to diversify its offerings and expand its market presence.
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