Trump Media Introduces Bitcoin ETFs Under Truth.Fi
Most of the companies owned by President Donald Trump, Trump Media and Technology Group (TMTG), are preparing to introduce exchange-traded funds (ETFs) and separate managed accounts (SMAs) under the Truth.fi brand.
The company has applied for trademarks related to these investment vehicles, including Bitcoin (BTC) ETFs.
Trump’s ETF adventure
The proposed investment products include the “truth.” fi in the US ETF and SMA, the truth. Fi US Energy Independent ETF and SMA and Truth.fi Bitcoin plus ETF and SMA. These products are designed to attract investors who are aligned with the company “America First” principle.
“We are exploring various ways to differentiate our products, including strategies related to Bitcoin. We will continue to challenge our scheduled product suite to develop the best product portfolio for investors who believe in the first principles of the United States, ” explain Devin Nunes, CEO of TMTG.
Nunes stresses that the goal of the truth is to provide alternatives for investors Traditional financial products. He claimed that the products were affected by “wake up funds and revocation issues.”
The TMTG program, as part of the program, allocates up to $250 million to these financial instruments. Charles Schwab will serve as the custodian.
At the same time, Yorkville Consultant will serve as a registered investment consultant and supervise Product development and regulatory approval.
The announcement sparked discussions between financial analysts and ETF experts. Bloomberg’s Senior ETF AnalystEric Balchunas notes that despite Trump’s brand recognition, he is currently in line with his current state Ishares Bitcoin Trust ETF (IBIT) and other products and Fidelity Wise Origin Bitcoin Fund (FBTC).
However, he acknowledged their contribution to the wider adoption of Bitcoin in mainstream finance.
“It’s safe to say that the first ever POTUS ETF issuer. What country,” Balchunas Comment.
Meanwhile, economist and vocal Bitcoin critic Peter Schiff speculated that the move could be reduced US Bitcoin strategic reserve.
“Well, if that does happen, I think if it’s really on the table, it’s really on the table, it needs a strategic reserve of Bitcoin.” statement.
While TMTG is expanding its financial footprint, other Trump’s financial companies face challenges. this Official Trump (Trump) meme coinsIn particular, struggling in the market after the initial hype disappeared.
The price fell sharply after reaching $73.4. The transaction price at press time was $17.6, reflecting a 7.6% drop in the past 24 hours.
This is 76.0% higher than its high record. and, The market continues to remain under the bearish stronghold.
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