Trump Set to Launch Bitcoin ETF and Funds Under Truth.Fi Brand

by A1

3 hours ago

Trump Media and Technology Group, majority-owned by the former US president, filed for trademarks for new investment vehicles under its Truth.Fi brand.

New Fund Directions

The firm plans to offer three types of investment funds: a 'Made in America' exchange-traded fund and separately managed accounts, a 'US Energy Independence' ETF and SMA, and a 'Bitcoin Plus' ETF and SMA.

Financial Details and Comments

The plan involves up to $250 million custodied by Charles Schwab, with Yorkville Advisors providing guidance. TMTG CEO Devin Nunes stated these funds are meant to provide an alternative to so-called 'woke funds'.

We aim to give investors a means to invest in American energy, manufacturing, and other firms that provide a competitive alternative to woke funds and debanking problems.Devin Nunes

Market Reaction

Despite the positive news, Bitcoin and crypto markets continued to decline. TMTG's stock rose about 5.6% following the announcement, while the TRUMP token dropped 6% on the day.

The launch of new funds under the Truth.Fi brand demonstrates TMTG's ambition to offer new investment opportunities. However, the impact on crypto markets remains muted.

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