Trump Media & Technology Group is teaming up with Crypto.com to introduce exchange-traded funds for investors, incorporating cryptocurrencies and securities with an American focus. The launch of these ETFs is scheduled for later in the year. Trump Media & Technology Group's stock (DJT) surged by 9% the day after the collaboration was announced. The products are set to be launched through Truth.Fi, a branch of the company that includes the Truth Social platform, Truth+ streaming service, and Truth.Fi financial technology brand. The partnership with Crypto.com's broker dealer Foris Capital US LLC will offer a unique ETF basket that integrates cryptocurrencies like Bitcoin and Cronos, along with other digital assets, focusing on industries such as energy with an emphasis on products made in America. CEO Devin Nunes stated that the goal is to develop innovative funds that support rapid growth, technological advancements, and the strengthening of the U.S. economy. Despite the recent increase in share value, Trump Media & Technology Group has experienced a 33% decrease in its stock value this year.
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