Trump Media eyes Bitcoin ETF with Truth.Fi platform
Trump Media & Technology Group (TMTG), majority-owned by former U.S. President Donald Trump, plans to launch exchange-traded funds (ETFs) and separately managed accounts (SMAs) via its Truth.Fi platform.
The company has filed trademark registrations for various ETFs and SMAs tied to the Truth Social platform and Truth+ video streaming service.
The trademarks include Truth.Fi Made in America ETF, Truth.Fi Made in America SMA, Truth.Fi US Energy Independence ETF, Truth.Fi US Energy Independence SMA, Truth.Fi Bitcoin Plus ETF, and Truth.Fi Bitcoin Plus SMA.
TMTG chairman and CEO Devin Nunes stated that these funds will enable investors to invest in American energy, manufacturing, and other firms.
The strategy also explores ways to differentiate products, including strategies related to Bitcoin (CRYPTO:BTC).
The proposed Truth.Fi funds include an initial investment of up to $250 million to be custodied by Charles Schwab.
New Jersey-based Yorkville Advisors will serve as the registered investment advisor for the new products.
President Trump has promised that cryptocurrencies will flourish under his administration.
This commitment was reinforced on February 4 when Republican congressional leaders announced the formation of a working group focused on crypto and stablecoin legislation.
According to Hester Peirce, the White House's newly formed Crypto Task Force is recommending that the SEC "provide temporary prospective and retroactive relief for coin or token offerings."
At the time of reporting, the Bitcoin (BTC) price was $97,426.59.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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