- TMTG, Crypto.com preliminary ETF partnership; leadership involves Devin Nunes.
- Potential launch in 2025 pending agreement.
- No official statements confirm partnership yet.
Trump Media and Technology Group (TMTG) and Crypto.com have entered a preliminary agreement to jointly launch ETFs through Truth.Fi. The launch is anticipated in 2025, pending necessary approvals and agreements.
This potential collaboration could impact the cryptocurrency ETF space by leveraging Crypto.com’s technology and TMTG’s financial resources, involving up to $250 million.
TMTG and Crypto.com Plan $250 Million ETF Series
BlockBeats News reported on March 25th that TMTG and Crypto.com plan to jointly launch a new series of ETFs, potentially offering diverse investment opportunities in cryptocurrency and American industries. Cryptos like Bitcoin and Cronos are among the assets to be included. The plan relies on securing regulatory approval and finalizing agreements by 2025.
The anticipated ETF products aim to incorporate a Made in America theme, spanning sectors like energy. The financial backing involves up to $250 million from TMTG, with custody arrangements made through Charles Schwab. Despite the announcement, official confirmations from TMTG or Crypto.com are missing in public records.
The cryptocurrency market is watching closely for further developments. Devin G. Nunes, Chief Executive Officer, Trump Media & Technology Group, stated: “As a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors. We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors.”
Bitcoin Market Surge Amidst ETF News Speculation
Regulatory frameworks have historically impacted crypto ETF approvals in the U.S. This evolving arena may influence future decisions concerning TMTG and Crypto.com’s proposed collaboration, given the emphasis on trading digital and physical assets.
Bitcoin (BTC) currently trades at $88,187.13 with a market cap of $1.75 trillion. The 24-hour trading volume is $33.78 billion, showing a 186.04% increase. Its dominance in the market stands at 60.75%, as per CoinMarketCap data. The cryptocurrency experienced a 3.58% rise over 24 hours.
Experts anticipate that the potential entry of TMTG into the crypto market could draw regulatory scrutiny, especially with leveraging large sums for investment in diversified assets. Technological and financial synergies are expected to facilitate broader integration into traditional industries.
Regulatory frameworks have historically impacted crypto ETF approvals in the U.S. This evolving arena may influence future decisions concerning TMTG and Crypto.com’s proposed collaboration, given the emphasis on trading digital and physical assets.
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