- Trump Media to launch crypto-focused ETFs in partnership with Crypto.com.
- Products include Bitcoin, Crypto.com’s native token, and other digital assets.
- Mixed reactions as users question alignment with Bitcoin’s decentralized ethos.
Trump Media & Technology Group (TMTG), the parent firm of Truth Social, has partnered with Crypto.com to launch a series of exchange-traded funds (ETFs) and exchange-traded products (ETPs).
Notably, the proposed funds will include what’s being described as a first-of-its-kind ETF basket comprising both digital assets and American-made securities. These financial products are currently subject to regulatory approval and are anticipated to launch later this year.
What Kind of ETFs and ETPs are Planned?
According to official sources, the collaboration will introduce ETFs that include Bitcoin ($BTC), Crypto.com’s native token ($CRO), and other digital assets. Emphasizing a “Made in America” theme, the proposed ETFs will also encompass securities from various U.S. industries, such as energy and manufacturing.
Such a move comes as no surprise, given the Trump administration’s consistent focus on strengthening America’s global economic position. With blockchain emerging as a key sector, the Trump team’s substantial investments in the space aligned with this agenda.
Related: Bitcoin Speculative Trading Loses Steam: Is Trump’s Crypto Push to Blame?
Is This Partnership Seen Positively by Everyone?
While some are calling this a bold move, it has also led to debate and questions within the cryptocurrency community about whether it fits with the core principles of crypto.
Initial reactions from the crypto community have so far been varied. While some investors see the move as a major step in bridging traditional finance and the crypto space, others remain skeptical.
Digital asset enthusiast Bill Morgan, for example, commented on the contradiction of linking Bitcoin’s decentralized nature with a government-backed, centralized theme.
“Made in America focus and Bitcoin in the same breath. Doesn’t quite go together,” he wrote in his post.
Others pointed out the similarities between the upcoming ETFs and the existing token collections on the Crypto.com app. “Very interesting. Crypto.com already has a basket of meme coins and tokens in the app. This is quite a development,” one Crypto.com user noted.
Why is Crypto.com the Chosen Partner?
On the other hand, ZachXBT, a well-known on-chain investigator, heavily criticized Truth Social’s choice of partnership, citing Crypto.com’s recent controversial token resistance against community wishes.
ZachXBT suggested that Truth Social should have chosen exchanges with stronger reputations, like Coinbase, Kraken, or Gemini.
Related: World Liberty Financial: $550M Raised, SEI Purchase, and an Unusual Token Swap Offer
Industry experts are wondering if this partnership is a strategic move by TMTG to further establish itself as a major player in finance. However, whether this will be successful will likely depend on regulatory review and how the market views these new financial products.
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