The media and technology company of US President Donald Trump plans to file for financial products linked to Bitcoin.
According to the announcement on February 6, TMTG - a company majority-owned by US President Donald Trump - has filed trademark applications for several ETFs and SMAs linked to the Truth Social platform and the Truth+ streaming service.
The trademarks include Truth.Fi Made in America ETF, Truth.Fi Made in America SMA, Truth.Fi US Energy Independence ETF, Truth.Fi US Energy Independence SMA, Truth.Fi Bit Plus ETF, and Truth.Fi Bit Plus SMA.
TMTG's Chairman and CEO, Devin Nunes, who was also the Chairman of the President's Intelligence Advisory Board during the Trump administration, said these funds will provide opportunities for investors to invest in "American energy, manufacturing, and other companies providing competitive choices to the woke funds and bankification issues" that he claims exist in other parts of the market.
This strategy includes "exploring ways to differentiate our products, including strategies related to Bit," Nunes said.
The proposed Truth.Fi funds will have an initial investment of up to $250 million, custodied by Charles Schwab. Yorkville Advisors based in New Jersey will be the registered investment advisor for these new products.
Previously, President Trump had promised that cryptocurrency would thrive under his administration. This promise was reiterated on February 4 when Republican congressional leaders said they would form a working group focused on crypto and stablecoin legislation.
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The article Trump Media Files for "Truth․Fi Bit Plus ETF" first appeared on CoinMoi.
