Trump Media and Technology Group Corp., (TMTG), is expanding According to an article, a company has entered the financial sector with new investment products including a Bitcoin exchange-traded funds (ETF) that is based on spot Bitcoins (BTC). Feb. 6 announcement.
President Donald Trump holds the majority of TMTG. TMTG has trademarked the Truth.Fi logo to include multiple ETFs, as well separately managed account (SMAs). Truth.Fi Bitcoin Plus is the name of one fund that will offer exposure to Bitcoin.
TMTG and Yorkville Advisors have partnered to act as investment advisors registered with the SEC for the fund. Yorkville is responsible for the product structure and regulatory processes.
This company is also Charles Schwab, as the custodian, plans to invest $250 million into financial services. This amount is over 35% of TMTG’s reported cash reserves of $700 million.
The other planned products are Truth.Fi Made in America ETF, Truth.Fi U.S. Energy Independence ETF, Truth.Fi Bitcoin Plus ETF, and Truth.Fi SMA.
Bloomberg senior ETF analyst Eric Balchunas highlighted Here is a picture of the “first-ever POTUS ETF issuer,”Although neither Trump or the White House directly distributes the products.
Bitcoin is an alternative
Devin Nunes, Chairman and CEO of TMTG said that the new products were alternatives to traditional asset management companies. 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.”
After the US approved multiple Bitcoin ETFs last year, the cryptocurrency sector has seen increased adoption by institutions.
Farside Investors’ data shows that US-traded Bitcoin ETFs, which are traded on the spot market in US exchanges, have brought in nearly $40 billion since they were launched.
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 Commentary on the article The article highlights the increased overlap between ETFs, crypto and stock markets.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
