Shares of Trump Media & Technology Group Corp (DJT) surged 5.14% in after-hours trading on Monday, following the company's announcement of its intention to partner with Crypto.com to launch a series of ETFs. This strategic move marks a significant expansion into the financial products sector for the media and technology company.
According to the announcement, Trump Media & Technology is planning to introduce "America-First Investment Funds" slated for launch in 2025. These ETFs are set to be accompanied by a slate of Truth.fi separately managed accounts (SMAs), broadening the company's financial offerings. The partnership with Crypto.com, a leading cryptocurrency platform, suggests a potential focus on digital asset-related investment products.
In a notable commitment to these new ventures, Trump Media & Technology revealed its intention to invest in both the ETFs and SMAs using its own cash reserves. This move not only demonstrates the company's confidence in its new financial products but also aligns its interests with potential investors. The after-hours stock price jump reflects investor optimism about this diversification strategy and its potential to open new revenue streams for the company.
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