MEXICO CITY (March 24): US President Donald Trump's media company Trump Media & Technology Group said on Monday that it is partnering with Crypto.com to launch exchange-traded funds (ETFs) and products through its Truth.Fi brand.

Shares of the company, which operates social media platform Truth Social, rose 10.5% after the bell on Monday, but have fallen 38% in the last 12 months.

The ETFs, which will be available through Crypto.com's broker-dealer Foris Capital, will include digital assets, as well as securities with a "Made in America focus" across various industries, according to a statement.

The funds are planned to be launched later this year, and will be available internationally, including the US, Europe and Asia.

Crypto.com will provide backend technology, custody, and cryptocurrencies such as bitcoin and cronos for the ETFs.

Trump Media announced the launch of its financial services and FinTech brand Truth.Fi in January, amid a crypto boom.

Its board had also authorised an investment of up to US$250 million (RM1.1 billion) through Charles Schwab, as it seeks to diversify its cash holdings, which exceeded US$700 million at the close of the previous year.

Trump Media had said it plans to allocate these funds into various investment options, including ETFs, separately managed accounts, and cryptocurrencies.

In February, Trump Media said it has applied to trademark six investment products that track bitcoin, and the US manufacturing and energy sectors.

The trademarks include Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF, and Truth.Fi US Energy Independence ETF.

Uploaded by Liza Shireen Koshy