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Shares of Trump Media jumped about 9% in extended trading on Monday after the parent of the president’s social media company announced an agreement with Crypto.com to launch a series of exchange-traded funds and related products.
The company, which runs the Truth Social platform, has been hammered by investors so far this year despite President Donald Trump’s return to the White House. Prior to the after-hours gain, the stock was down 38% in 2025.
In the press release on Monday, Trump Media said the ETFs and exchange-traded products will have a “Made in America” focus and will launch later this year, subject to regulatory approval. It’s President Trump’s latest foray into crypto, after his family introduced several Trump-branded non-fungible tokens and memecoins and announced plans to start a crypto bank of sorts.
The announcement also further blurs the line between the president’s business ventures and his policy agenda.
Trump is the majority owner of Trump Media, which has a market cap of about $4.6 billion. It’s a tiny and money-burning business. Trump Media last month reported losing $400 million in 2024, while taking in $3.6 million in revenue.
Much of the work in bringing the new ETFs to market will fall to Crypto.com and its U.S. affiliate, Foris Capital, a familiar arrangement for Trump, who has long allowed other companies to develop products with his name and brand.
Crypto.com CEO Kris Marszalek, in the statement, touted access to a “brand with a loyal following.”
The funds will be marketed under TMTG’s newly-launched fintech brand, Truth.Fi. According to the press release, the crypto exchange will “support the backend technology, provide custody, and supply the cryptocurrencies for the ETFs,” which are set to include a unique basket of digital assets like bitcoin and cronos (Crypto.com’s native token), alongside traditional securities spanning industries such as energy.
If the ETFs launch, they’ll be available internationally, including in Europe and Asia, on major brokerage platforms and via the Crypto.com app, which boasts 140 million users globally.
WATCH: Trump’s World Liberty Financial projects says it sold $550 million in tokens
https://www.cnbc.com/2025/03/24/trump-media-shares-jump-on-announcement-of-etf-deal-with-cryptocom.html
