Trump Media and Technology Group Corp. (TMTG) is expanding into financial services with a new suite of investment products, including a spot Bitcoin (BTC) exchange-traded fund (ETF), according to a Feb. 6 announcement.
President Donald Trump is the largest holder of TMTG, which has applied for trademarks under the Truth.Fi brand to cover multiple ETFs and separately managed accounts (SMAs). One of the planned funds is called the Truth.Fi Bitcoin Plus ETF, which would offer investors exposure to Bitcoin.
TMTG has partnered with Yorkville Advisors, which will serve as the registered investment advisor for the funds. Yorkville will manage the regulatory process and product structuring.
The company also announced plans to invest up to $250 million in financial services, with Charles Schwab as custodian. This amount is over 35% of TMTG’s reported cash reserves of $700 million.
Other planned investment products include Truth.Fi Made in America ETF and SMA, Truth.Fi U.S. Energy Independence ETF and SMA, and Truth.Fi Bitcoin Plus ETF and SMA.
Bloomberg senior ETF analyst Eric Balchunas highlighted that this is the “first-ever POTUS ETF issuer,” although neither Trump nor the White House will directly issue the products.
Bitcoin as an alternative
TMTG Chairman and CEO Devin Nunes said the new products are alternatives to offerings provided by traditional asset management firms. He also emphasized the company’s new focus on Bitcoin, adding:
“We aim to give investors a means to invest in American energy, manufacturing, and other firms that provide a competitive alternative to the woke funds and debanking problems that you find throughout the market.”
The move into Bitcoin ETFs comes as the crypto sector sees increased institutional adoption following the approval of multiple spot Bitcoin ETFs in the US last year.
According to Farside Investors data, US-traded spot Bitcoin ETFs have amassed nearly $40.7 billion in net inflows a little over a year since their launch.
Balchunas noted that while Trump’s ETF will likely be small compared to existing products such as BlackRock’s IBIT or Fidelity’s FBTC, its launch contributes to the growing mainstream acceptance of Bitcoin.
ETF Store President Nate Geraci also commented on the development, highlighting the increasing overlap between ETFs and crypto markets.
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