A company majority owned by former President Donald Trump, Trump Media and Technology Group (TMTG), has launched applications for three exchange-traded funds (ETFs) under its Truth.Fi brand. The proposed ETFs include a “Truth.Fi Bitcoin Plus ETF,” as well as “Truth.Fi Made in America ETF” and “Truth.Fi Energy Independence ETF.”
The company aims to differentiate its products, including strategies related to bitcoin, to appeal to investors who support Trump’s “America First” principles. TMTG CEO Devin Nunes stated that the company will refine its product suite to offer the best mix of investments for these investors.
The launch of a bitcoin ETF is likely to attract attention, given Trump’s endorsement of cryptocurrency and his vision of making bitcoins “made in America.” The market already has multiple bitcoin ETFs with over $100 billion in net assets. Bitcoin miners are expected to be among the first to sign up for any offerings that provide a decent price.
The move raises questions about potential conflicts of interest, as Trump appointed regulators will need to approve these financial products. The approval process and potential implications on the market remain uncertain at this time.
Source: https://www.axios.com/2025/02/06/trump-bitcoin-etf