- TMTG is to partner with Crypto.com to launch ETFs
- TMTG crypto ETFs and non-crypto ETFs “Made in America”
- They will include Bitcoin as well as CRO
- CRO is up 29.1% in the last 24 hours
- In addition, they will include stocks of U.S. tech companies
TMTG is to partner with Crypto.com to launch ETFs, both crypto and non-crypto, as part of its America First strategy, featuring U.S. cryptocurrencies, tech, and industrial stocks. This is not a final agreement, and much will depend on the final terms, but there is a significant chance that it will happen, and the CRO price has already shown a 29.1% increase in the last 24 hours.
More About the Potential Partnership Between TMTG and Crypto.com
More specifically, the partnership would be between Truth.Fi, a subsidiary of TMTG, and Crypto.com’s broker-dealer Foris Capital US LLC, with tech giant Schwab also getting involved, which would be responsible for the technical and infrastructure aspects for SMAs.
And yes, if you remember the news that TMTG has registered trademarks for its ETFs and SMAs, this is a direct extension of that. However, since the agreement is non-binding – it doesn’t yet have a full and final list of the products to be launched and under which brands they will eventually be released, and regulatory approvals in the US, Europe, and Asia are still pending.
Nevertheless, the agreement already makes the following provisions clear:
TMTG will launch several investment products, among them ETFs/ETPs with Bitcoin, as well as for the first time with the Crypto.com native token CRO, and of course several stocks of U.S. technology and industrial companies. TMTG will promote them under its Truth.Fi brand and related sub-brands.
Crypto.com will act as the infrastructure, provide the backend, act as a custodian, and provide liquidity through the popularity of its platform.
TMTG will also invest $250M in a separate line of investment tools called TMTG SMAs – customizable investment portfolios. This is where Charles Schwab steps in to provide the infrastructure and act as custodian. While this is a separate initiative, it is part of the overall TMTG “Made in America” products.
Speaking of the sentiment of key participants, this is best captured by their comments on the subject, such as Devin Nunes, CEO and Chairman of TMTG:
“We’re excited to join Crypto.com, along with our partner Yorkville America, to launch America First investment products supporting innovative crypto ventures, great American companies, and cutting-edge technologies. We aim to create inventive funds incorporating firms that concentrate on rapid growth, technological innovation, and strengthening the U.S. economy, unencumbered by woke nonsense and political posturing. Investors will finally have options that adhere to their principles and that support superior U.S. companies precisely focused on their core businesses.“
Also, Kris Marszalek, Co-Founder and CEO of Crypto.com gave a promising comment:
“We are proud to partner with Truth Social (DJT) and Yorkville America, and to support the launch of these new ETFs, including the first of its kind basket of tokens including CRO. These ETFs will give consumers more options from a brand with a loyal following. Once launched, these ETFs will be available on the Crypto.com App for our more than 140 million users around the world.”
Having said that, CRO has already shown a sharp 29.1% increase in just 24 hours. It went from $0.081 to $0.11 but still met resistance and corrected to $0.107 and is trading at $0.106 at the time of writing.
Conclusion
This is potentially a very big partnership and it could significantly affect Bitcoin, the entire crypto industry, and stock markets, while the main asset of key participant Crypto.com has already been affected very noticeably.
However, it is too early for the real and joint outcome, as we have yet to see the final agreement and its terms. Stay tuned for updates, be adaptive in the rapidly evolving financial and crypto landscape, and keep your strategy grounded, balanced, and beneficial.
