NEW YORK, December 31, 2025, 10:02 ET — Regular session
- Trump Media shares rose about 4% after it announced a new digital token for shareholders.
- The company said the program will be done in partnership with Crypto.com.
- The announcement follows the launch of five Truth Social-branded ETFs a day earlier.
Shares of Trump Media & Technology Group Corp. (DJT) rose about 4% on Wednesday after the company said it plans to distribute a new digital token to shareholders in partnership with Crypto.com. The stock was up 3.8% at $13.05 in morning trading, after ranging between $12.52 and $13.47.
The latest crypto-linked plan matters because Trump Media has been leaning into financial products to keep investors engaged and broaden its business beyond its social-media app. Traders have been quick to reprice the stock on product headlines, and the company is now asking investors to wait for key mechanics that can shape demand and eligibility.
Trump Media said it expects “in the near future” to make each ultimate beneficial owner eligible to receive one token for each whole share of DJT held, and that token holders may get periodic rewards such as discounts tied to Truth Social, Truth+, and Truth Predict. “We look forward to utilizing Crypto.com’s blockchain technology,” CEO Devin Nunes said in the announcement. The company added that the tokens are expected to be non-cash and may not be transferable, with additional details to follow in the new year. GlobeNewswire
A digital token is a blockchain-based digital asset, similar in concept to cryptocurrencies, but the company framed this one as a rewards instrument rather than an equity stake. A “record date” is the cutoff date a company sets to determine which shareholders qualify for a distribution; “ultimate beneficial owner” refers to the end investor who owns shares through a broker.
The token news landed a day after Yorkville America Equities said the first five Truth Social-branded exchange-traded funds began trading on the New York Stock Exchange. The funds include TSSD, TSFN, TSIC, TSES and TSRS, and Yorkville said it and Trump Media plan additional ETFs in 2026, including digital asset-based funds through Crypto.com’s broker-dealer, Foris Capital US.
Trump Media also furnished the ETF launch press release in a Form 8-K filing dated Dec. 30, a regulatory disclosure companies use to report certain events to investors.
For investors, the immediate question is whether the token becomes a sustained demand driver or a short-term headline. The share-per-token structure can encourage holders to keep positions through the record date once it is set, but it can also draw scrutiny around how the program is administered through brokers.
Execution details will matter. Traders are likely to focus on the record date, how shareholders claim the tokens, whether the tokens can be transferred, and what rewards are actually offered once the program launches.
The ETF rollout is another watchpoint. Market participants will look for signs of early asset inflows, trading volumes and whether the brand-driven funds can gain traction in a crowded ETF market dominated by large providers and low-cost index products.
DJT’s early range on Wednesday left $13 as a near-term line in the sand for momentum traders, with the session high around $13.47 in view. A slip back toward the day’s low near $12.52 would suggest the initial pop is fading.
The company’s language also signals uncertainty: it said it can change or terminate the token distribution and that more terms are coming later. Until those details arrive, price action is likely to stay sensitive to filings, product updates and shifts in retail-trader sentiment.
