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02/08 06:43
Trump Media Joins Bitcoin ETF Race—First-Ever POTU
Trump Media to Launch Bitcoin ETF—Is This the Next Big Thing in Crypto?
Trump Media and Technology Group Corp. (TMTG), majority-owned by U.S. President Donald Trump, is advancing plans to introduce investment products under the Truth.Fi brand, the company announced Thursday. TMTG, which operates the social media platform Truth Social and the streaming service Truth+, has applied for trademarks covering a range of exchange-traded funds (ETFs) and separately managed accounts (SMAs).
The planned investment vehicles include “Truth.Fi Bitcoin Plus ETF” and “Truth.Fi Bitcoin Plus SMA,” among others. The initiative is part of TMTG’s broader push into financial technology and investment services, which includes a partnership with financial giant Charles Schwab to custody up to $250 million in assets.We aim to give investors a means to invest in American energy, manufacturing, and other firms that provide a competitive alternative to the woke funds and debanking problems that you find throughout the market,” TMTG CEO and Chairman Devin Nunes stated. The executive added:
We’re exploring a range of ways to differentiate our products, including strategies related to bitcoin. We will continue to finetune our intended product suite to develop the optimal mix of offerings for investors who believe in America First principles.
As part of the rollout, TMTG has entered into agreements with an affiliate of Yorkville Advisors, which will serve as the Registered Investment Advisor for the new financial offerings. Yorkville will take the lead in constructing and guiding the products through the regulatory process.
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