Trump Media Stock Surges Over 10% on ETF Deal With Crypto.com

Trump Media & Technology Group’s stock price is surging on Tuesday morning, a day after the company signed a deal with Crypto.com to launch exchange-traded funds (ETFs).

The ETFs will include a mix of cryptocurrencies like Bitcoin and Cronos with traditional securities that have a “made in America” focus. The ETFs are expected to launch later this year in the U.S., Asia and Europe.

Trump Media, which is the parent company of President Trump’s Truth Social platform, saw its share price receive a nice boost an hour into trading on Tuesday, climbing 10% to $23.13. The increase for Trump Media — which trades under President Trump’s initials, DJT — is a welcome one for investors, as the company’s stock price is down 34% since the start of the year.

DJT shares ran up to $42.91 a week before President Trump’s inauguration on Jan. 20, but have since dropped 85%.

“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 CEO Devin Nunes said about the new ETF deal.

Last month, Nunes said in a regulatory filing the company was “exploring mergers & acquisitions across multiple industries.” The company also shared that its cash and short-term investments jumped from $2.6 million at the end of 2023 to $776.8 million by the end of 2024; at the same time, the company reported $3.6 million in sales and a $400 million loss for the year.

Trump Media enjoyed a nice Wall Street run leading up to the election, helping make the company worth more than the New York Times at one point. That is not the case anymore, with the Times valued at $8 billion and Trump Media at $5 billion on Tuesday morning.

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