Trump Media files for ‘Truth․Fi Bitcoin Plus ETF’
Truth Media is giving investors the occasion to subsidize on MAGA’s crusade pledges, which include US energy independence, manufacturing growth and Bitcoin relinquishment.
Trump Media and Technology Group( TMTG) intends to launch exchange- traded finances( ETFs) and independently managed accounts( SMAs) tied to its Truth Social platform, which includes investment strategies related to Bitcoin
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According to a Feb. 6 advertisement, TMTG which is maturity- possessed by US President Donald Trump has filed trademark enrollments for colorful ETFs and SMAs tied to the Truth Social platform and verity videotape streaming service.
The trademarks include Truth.Fi Made in America ETF, Truth.Fi Made in America SMA, Truth.Fi US Energy Indepedence ETF, Truth.Fi US Energy Independence SMA, Truth.Fi Bitcoin Plus ETF and Truth.Fi Bitcoin Plus SMA.
TMTG president and CEO Devin Nunes, who also serves in the Trump administration as president of the President’s Intelligence Advisory Board, said the finances give investors the capability to invest in “ American energy, manufacturing, and other enterprises that give a competitive volition to the woke finances and debanking problems ” he says are set up in other corridor of the request.
This strategy includes “ exploring a range of ways to separate our products, including strategies related to Bitcoin, ” said Nunes.
The proposed Truth.Fi finances include an original investment of over to$ 250 million to be custodied by Charles Schwab, the advertisement said. New Jersey- grounded Yorkville counsels will serve as the registered investment counsel for the new products.
TMTG was innovated in 2021 and went public in March 2024. Its stock presently trades on the Nasdaq.
Trump’s crypto MAGA promise
President Trump has promised that cryptocurrencies will flourish under his administration. This was farther reiterated on Feb. 4 when Democratic congressional leaders said they would form a working group to concentrate on crypto and stablecoin legislation.
“ We do n’t want to be before in fiscal technology and digital means in the United States, ” said Arkansas Representative French Hill.
On the same day that Republicans blazoned their renewed nonsupervisory drive forpro-crypto legislation, Securities and Exchange Commission Commissioner Hester Peirce pledged to fix the “ mess ” that former SEC Chair Gary Gensler left behind regarding crypto.
According to Peirce, the White House’s recently formed Crypto Task Force is recommending that the SEC “ give temporary prospective and retroactive relief for coin or token immolations ” that were unfairly targeted by the former governance.