The media company of the US President Donald Trump, Trump Media and Technology Group (TMTG), is making movements to launch funds quoted in exchange (ETF), including a monitoring of the price of Bitcoin (BTC), according to an announcement Thursday.
The ETFs, three of them in total so far, along with other planned products, would be launched under the Trump Truth.fi brand. The Bitcoin -centered fund, for example, would go under the name of the truth. FI BITCOIN PLUS ETF. The other two funds are the truth. Fi in ETF America and a truth.
The company plans to launch the products this year, according to the announcement, but gave no more details about the timeline. The US stock and securities commission will be responsible for reviewing and approveing these products once presented. Trump nominated Paul Atkins to be the new president of the Bag and Securities Commission (SEC) after Gary Gensler’s departure, who left the agency when Trump was inaugurated in January.
“Our goal is to provide investors with a means to invest in American energy, manufacturing and other companies that provide a competitive alternative to the alarm funds and dependent problems that are found throughout the market,” said the CEO and president of TMTG, Devin Nunes, in a statement. “We are exploring a variety of ways to differentiate our products, including Bitcoin related strategies.”
The funds would be custodians by Charles Schwab with Yorkville Advisors, based in New Jersey, who act as an investment advisor.
Several ETF of Bitcoin Spot launched in January 2024 and instantly attracted billions of dollars of capital of a variety of retail and institutional investors. Ishares Bitcoin Trust (ibit) of Blackrock accumulated more than $ 52.3 billion in assets in its first year (a combination of large tickets and the strong increase in the price of Bitcoin), which made it the launch of the most successful ETF in The history of ETFs of the USA. UU.
According to Bloomberg Intelligence ETF senior, Eric Balchunas, TMTG’s Bitcoin ETF will probably not see the same traction, but it still is important.
“Despite Trump’s brand, they are likely that these will be microscopic at the asset meeting compared to Ibit, FBTC et al.”, Balchunas wrote in a publication about X. “Said that, only the fact [that] they [are] Sailing it adds to the narrative of the creation of current, which matters. “
