Trump Media and Technology Group launched its asset management service, Truth.Fi, today. The company wants more income sources beyond its Truth Social platform, which sees only 646,000 daily visits. Last year, the firm reported just $3.6 million in sales, with actual billings around $200,000.
The company's board approved using up to $250 million from cash reserves to create Separately Managed Accounts and ETFs earlier this year. For this venture, they partnered with Yorkville America Equities and Index Technologies Group. They offer investment strategies focused on Faith and values, Liberty and security, Energy Independence, and Made in America themes.
Trump Media also joined forces with Crypto.com to develop cryptocurrency ETFs under the Truth.Fi name. These will include various digital assets like Bitcoin and Cronos. The crypto ETFs should become available later this year after regulatory approval. They plan to sell these products internationally as well.
The company also created a fund to explore partnerships or acquisitions with other businesses in what it calls the America First Economy. Despite these new ventures, Trump Media shares remain flat in pre-market trading. The stock has fallen more than 44 percent since January.
The company's board approved using up to $250 million from cash reserves to create Separately Managed Accounts and ETFs earlier this year. For this venture, they partnered with Yorkville America Equities and Index Technologies Group. They offer investment strategies focused on Faith and values, Liberty and security, Energy Independence, and Made in America themes.
Trump Media also joined forces with Crypto.com to develop cryptocurrency ETFs under the Truth.Fi name. These will include various digital assets like Bitcoin and Cronos. The crypto ETFs should become available later this year after regulatory approval. They plan to sell these products internationally as well.
The company also created a fund to explore partnerships or acquisitions with other businesses in what it calls the America First Economy. Despite these new ventures, Trump Media shares remain flat in pre-market trading. The stock has fallen more than 44 percent since January.
