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

Trump Media & Technology Group Corp DJT shares are rising Tuesday after the company signed an agreement to partner with Crypto.com to launch a series of ETFs through the Truth.Fi brand.

What Happened: Trump Media, the parent company of social media platform Truth Social, signed a non-binding agreement to partner with Crypto.com for a Truth.Fi ETF launch, expected to comprise digital assets and securities with a “Made in America focus.”

Crypto.com will support the backend technology, provide custody and supply the cryptocurrencies for the ETFs, expected to include Bitcoin BTC/USD, Cronos and other crypto assets.

The funds are expected to launch later this year and be widely available in the U.S., Europe and Asia.

“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,” said Devin Nunes, chairman and CEO of Trump Media.

“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.”

Trump Media announced an expansion into financial services at the end of January that would include the launch of Truth.Fi. The company said it will use its own cash reserves to invest up to $250 million to be custodied by Charles Schwab. Schwab is expected to broadly advise Trump Media's Truth.Fi investments and strategy.

DJT Price Action: Trump Media shares were up 7.4% at $22.57 at the time of publication Tuesday, according to Benzinga Pro.

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