Trump Media to Launch Bitcoin ETF Among Other Funds Under New Truth.Fi Brand
Trump Media and Technology Group (TMTG), the company behind President Donald Trump’s social media venture, has revealed plans to launch three exchange-traded funds (ETFs) this year, including a Bitcoin-focused fund. These funds will be launched under the newly introduced Truth.Fi brand.
The flagship product, named the Truth.Fi Bitcoin Plus ETF, will track the price of bitcoin (BTC). Other funds under the Truth.Fi umbrella will include the Truth.Fi Made in America ETF, which focuses on U.S. industries, and the Truth.Fi Energy Independence ETF, aiming to invest in energy-related assets. The company intends to launch the ETFs later this year, though specific launch dates have not been disclosed.
TMTG plans to file the ETFs with the U.S. Securities and Exchange Commission (SEC) for approval. In a significant shift, Paul Atkins was appointed as the SEC chair following Gary Gensler’s departure in January, which may influence the regulatory review process.
“We are creating opportunities for investors to access a variety of sectors like bitcoin, energy, and U.S. manufacturing, providing alternatives to traditional ‘woke’ financial products,” said Devin Nunes, CEO of TMTG. “Bitcoin, along with our other offerings, aligns perfectly with our vision to offer transparent and profitable investment options.”
The ETFs will be custodied by Charles Schwab, with Yorkville Advisors serving as the investment advisor.
Despite the success of BlackRock’s iShares Bitcoin Trust (IBIT), which raised over $52.3 billion in its first year, experts believe TMTG’s move into the space could still have a significant cultural impact. According to Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, TMTG’s entry “adds to the mainstream narrative of crypto adoption,” even if the funds don’t immediately see massive asset flows.
