What's Going On With Trump Media & Technology Stock On Tuesday?

Benzinga·04/22/2025 20:00:37

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Trump Media & Technology Group Corp. (NASDAQ:DJT) shares are trading higher on Tuesday.

The company is finalizing its step into digital finance through a partnership to launch a suite of exchange-traded products under its Truth.Fi brand.

The firm, known for running the social media network Truth Social and streaming service Truth+, signed a definitive agreement with crypto trading platform Crypto.com and asset manager Yorkville America Digital to develop and distribute ETFs and other investment products.

The collaboration follows an initial non-binding pact made in March and represents a significant shift for TMTG as it diversifies into the financial services sector.

Under the agreement, the upcoming financial products will include both digital assets and securities rooted in American-centric industries, such as energy.

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These products will be distributed globally—pending regulatory approval—through broker-dealer Foris Capital US LLC, affiliated with Crypto.com. Markets in the United States, Europe, and Asia are expected to gain access to these funds by the end of the year.

Devin Nunes, CEO and chairman of Trump Media, described the deal as a major milestone in the firm's journey into fintech, emphasizing the potential for growth in both the U.S. economy and digital asset space. Kris Marszalek, CEO of Crypto.com, echoed this optimism, highlighting the deal as a testament to the platform's ability to connect crypto and traditional financial markets.

Troy Rillo, CEO of Yorkville America Digital, emphasized that the new offerings align with his firm's "America-First" investment principles.

The initiative also includes a plan to launch separately managed accounts (SMAs) alongside the ETFs.

Trump Media intends to invest up to $250 million of its own capital into the new financial products, with funds to be managed by Charles Schwab.

Price Action: DJT shares are trading higher by 5.39% to $23.70 at last check Tuesday.

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