The media company of the US President Donald Trump, Trump Media, announced a partnership with the crypto tours Crypto.com last night in order to create joint ETFs. The announcement marks another step in President Trump's ambitious vision of making the USA the “crypto hub in the world”-with a clear focus on “Made in America”.
The new ETFs should offer a combination of cryptocurrencies and securities from US companies from industries such as energy and technology. Crypto.com takes over technical support, the custody of the digital assets and the provision of cryptocurrencies. “We create something unique here,” said Devin Nunes, CEO of Trump Media. “Our funds rely on companies that drive growth and innovation – without the ballast of woken ideologies or politics.”
Trump's government has already set the first course in the recent past to make the United States more attractive when it comes to crypto. This includes, among other things, the first digital asset summit in the White House, a decree to create a strategic bitcoin reserve and the establishment of a US digital asset deposit. Trump also ended what he called “Regulatory War against Krypto and Bitcoin” of the bidue administration. He is now asking for the congress to create clear rules for stable coins and market structures. “With the right regulatory framework, institutions can finally invest and innovate freely,” he emphasized.
It remains to be seen whether the partnership with Crypto.com and the new ETFs will actually make the breakthrough. Trump relies on a combination of national pride and crypto hype. The Trump share reacts to the news with a daily plan of over seven percent. Investors should continue to avoid the stock due to the still struck chart image.
