Donald Trump's media company, Trump Media and Technology Group, has announced plans to launch three new exchange-traded funds (ETFs), one of which will be linked to Bitcoin.
ETF Launch Plans
Trump Media and Technology Group has announced their intention to launch three new currency ETFs. One of these funds will be called Truth.Fi Bitcoin Plus ETF and will be priced at parity with Bitcoin. The other two funds include the Truth.Fi Made in America ETF and the Truth.Fi Energy Independence ETF. These funds are planned to be launched this year, though a specific date and additional information have not been disclosed yet.
Donald Trump's Role in Cyberspace
Donald Trump expressed his intention to make the United States the world's crypto capital. During a Bitcoin conference in Nashville, he discussed the potential of creating a crypto reserve to cover the national debt. He also launched a new cryptocurrency venture, World Liberty Financial, aiming to integrate traditional finance with DeFi. To enhance government efficiency, he appointed Elon Musk as co-leader of a new initiative.
Cryptocurrency Market and Trump's Ambitions
Trump Media recently acquired the crypto platform Bakkt and appointed Bo Hines as the executive director of a new 'Crypto Council.' Following that, the meme coin $TRUMP experienced a significant surge, increasing its value by 300% within 24 hours. Meanwhile, Bitcoin hit a record high, surpassing $109,000 shortly before Trump's inauguration.
The planned ETF offerings could strengthen TMTG's position in the cryptocurrency space, while new crypto initiatives highlight Donald Trump's ambition to establish the US as a leader in the crypto industry.
