In a move that bridges the worlds of politics, finance, and cryptocurrency, Trump Media & Technology Group (TMTG) and Crypto.com have announced plans to launch a series of cryptocurrency-focused exchange-traded funds (ETFs). The initiative, developed in partnership with asset manager Yorkville America Digital, will roll out under TMTG’s new Truth.Fi brand and is expected to debut in late 2025, pending regulatory approval from the U.S. Securities and Exchange Commission (SEC). These ETFs will be branded around the themes of “Made in America” and “America First,” with a unique investment strategy that combines traditional U.S. sectors with select digital assets like Bitcoin and Cronos.
Understanding ETFs and Their Role in Crypto
An exchange-traded fund, or ETF, is a marketable security that tracks the value of a group of assets—such as stocks, commodities, or in this case, cryptocurrencies—and trades on stock exchanges much like an individual stock. ETFs offer investors exposure to a diversified portfolio without requiring them to purchase each asset individually. Crypto ETFs, a more recent development, allow investors to gain exposure to digital assets like Bitcoin or Ethereum through traditional brokerage accounts, without the need to directly hold or manage cryptocurrencies.
With regulatory frameworks around crypto becoming clearer, ETFs have become a preferred tool for investors seeking streamlined exposure to the digital asset space. Recent approvals of spot Bitcoin and Ethereum ETFs in the U.S. have paved the way for additional products that blend crypto and traditional financial themes.
The TMTG-Crypto.com Partnership: An Unlikely Alliance with Global Reach
At the heart of this initiative is the strategic partnership between TMTG, Crypto.com, and Yorkville America Digital. Trump Media, best known for its social media platform Truth Social, is looking to expand its footprint into financial services with this venture. Crypto.com, one of the world’s leading cryptocurrency exchanges, brings deep expertise in digital asset management and trading infrastructure. Yorkville, meanwhile, will lend institutional asset management capabilities to help design and structure the ETF offerings.
The products will be distributed globally, including in the United States, Europe, and Asia, through Crypto.com’s registered broker-dealer Foris Capital US LLC. The goal is to provide both retail and institutional investors access to investment vehicles that align with U.S.-focused themes and long-term crypto growth.
What Assets Will These ETFs Track?
The first ETF offerings from this collaboration will specifically track Bitcoin (BTC) and Cronos (CRO). While Bitcoin remains the most widely recognized and traded cryptocurrency, the inclusion of Cronos, Crypto.com’s native token, is particularly notable. A spot Cronos ETF filing is expected in the fourth quarter of 2025 as part of Crypto.com’s long-term roadmap.
Though only BTC and CRO are confirmed for the initial phase, there is potential for the ETF lineup to expand over time to include a broader basket of altcoins and other digital assets. However, the focus for now remains tightly aligned with these two cryptocurrencies, serving as the foundation of the digital component of the “Made in America” product line.
The “Made in America” Focus: Thematic Investment with a Patriotic Twist
The ETFs being developed under the Truth.Fi brand are designed to reflect a distinctly American investment narrative. In addition to digital assets, the funds will include exposure to sectors that are core to the U.S. economy, such as domestic energy, manufacturing, and possibly defense. These sectors are seen as critical components of the nation’s industrial strategy, especially amid growing calls for economic independence and supply chain reshoring.
This thematic approach could allow the ETFs to benefit from domestic policy initiatives such as the Inflation Reduction Act, which offers incentives for clean energy development, or trade policies that prioritize American-made goods. With rising geopolitical tensions and an emphasis on economic nationalism, these sectors may see increased investor interest in the coming years.
TMTG’s Financial Commitment and Institutional Integration
As part of its commitment to the success of this ETF initiative, Trump Media plans to invest up to $250 million of its own reserves into the ETFs and associated separately managed accounts. This substantial allocation is a signal of confidence in the products and may help build early momentum among investors who are aligned with TMTG’s political and economic vision.
Adding credibility to the venture is the selection of Charles Schwab as the custodian for the ETFs. As one of the most trusted names in U.S. financial services, Schwab’s involvement underscores the increasing institutional acceptance of crypto-related investment products. The legal structuring and compliance elements of the ETFs are being managed by Davis Polk & Wardwell, a top-tier law firm with extensive experience in financial regulation and securities law.
The Regulatory Path Ahead
Despite the finalized agreement between TMTG and its partners, it’s important to note that no ETF applications have yet been filed with the SEC. The path to launch will depend heavily on regulatory developments throughout 2025. The SEC has shown greater openness to crypto ETFs in recent months, approving several spot Bitcoin and Ethereum products. However, each new ETF must meet rigorous legal and compliance standards before receiving the green light.
The proposed Cronos spot ETF, in particular, will test how receptive regulators are to altcoin-based ETFs outside the Bitcoin and Ethereum mainstream. Crypto.com and its legal advisors will need to demonstrate transparency, strong custody arrangements, and reliable price discovery mechanisms to secure SEC approval.
How Will the “America First” Angle Affect ETF Performance?
The “Made in America” branding is more than just a political slogan—it could have meaningful implications for how the ETFs perform. By focusing on American sectors like energy and manufacturing, the funds may benefit from policy support, tax incentives, and trade protections that disproportionately benefit domestic producers. For investors who believe in the long-term strength of the U.S. economy, this represents a compelling investment thesis.
On the crypto side, including assets like Bitcoin and Cronos introduces volatility but also significant upside potential. These digital assets may benefit from increasing U.S. regulatory clarity, especially with recent moves away from adversarial policies like “regulation by enforcement.” Moreover, integration with institutional custodians like Schwab could enhance liquidity and security, boosting investor confidence.
However, there are risks. A heavy concentration in volatile sectors like energy or defense could expose the ETFs to sharp downturns if geopolitical or economic conditions shift. Additionally, Bitcoin’s notorious price swings could overshadow the performance of more stable equity holdings, making the ETF more volatile than some investors might expect. Furthermore, Trump Media’s limited experience in asset management may raise concerns about the operational execution of these funds, even with strong partners in place.
Conclusion
The upcoming launch of “Made in America” ETFs by Trump Media and Crypto.com marks a bold new chapter in the evolution of digital asset investing. By combining cryptocurrency exposure with thematically patriotic equity investments, these ETFs aim to carve out a distinct niche in a crowded market. If approved, they could appeal to a wide spectrum of investors—those seeking exposure to crypto, those betting on the strength of the American economy, and those aligned with the ideological underpinnings of the “America First” vision.
Yet, as with any new investment vehicle, the success of these ETFs will depend on execution, regulatory clearance, and market reception. Until the SEC weighs in, investors will be watching closely to see whether this ambitious blend of politics, crypto, and finance becomes a defining moment—or merely a bold experiment.
