US President Donald Trump’s media company, Trump Media and Technology Group (TMTG), is launching exchange-traded funds (ETFs) including one tracking the price of bitcoin. The three ETFs will be launched under the Truth.Fi brand, with two other planned products joining them.
The company plans to roll out the products this year but did not specify further details on the timeline. The U.S. Securities and Exchange Commission will review and approve these products once filed.
TMTG aims to offer investors a way to invest in American energy, manufacturing, and firms that provide an alternative to woke funds. CEO Devin Nunes stated that strategies related to bitcoin are being explored to differentiate their products.
The funds will be custodied by Charles Schwab with Yorkville Advisors acting as investment adviser. This launch comes after several spot bitcoin ETFs were launched earlier this year, attracting billions of dollars from retail and institutional investors. While TMTG’s bitcoin ETF is unlikely to match the success of existing ETFs, its launch adds to the mainstreamization narrative.
The company has nominated Paul Atkins to be the new chair of the Securities and Exchange Commission (SEC). The Trump-nominated SEC will oversee the review and approval process for these products.
Source: https://www.coindesk.com/markets/2025/02/06/trump-s-social-media-company-takes-steps-to-launch-bitcoin-etf