President Donald Trump’s new fintech company hopes to launch its own Bitcoin exchange products.
Truth.fi, the new financial arm of Trump Media and Technology Group – of which the president is the majority shareholder – said on Thursday that it had applied for trademarks for brand names for six new investment vehicles.
Of the six vehicles, two Bitcoin funds are: the truth.fi bitcoin plus etf and the truth.fi bitcoin plus sma.
ETFs are funds with which speculators can buy shares that follow the price of raw materials or effects. Top fund managers – including BlackRock and Fidelity – launched Bitcoin ETFs in the United States for a long time, giving more traditional investors the opportunity to buy exposure to the largest cryptocurrency.
A SMA, or separately managed account, is a kind of investment product with which customers-in particular high neat-worthy persons lake can have control over what the investment vehicle contains.
“We want to give investors a means to invest in American energy, production and other companies that offer a competitive alternative to the wake -up funds and debt problems that you will find on the market,” said Trump Media CEO and chairman Devin Nunes.
It is currently not clear what the “plus” part of the Bitcoin Plus products would entail. Decrypt Trump achieved media for comment about what the Bitcoin Plus products entail, but did not receive an immediate response.
TMTG – who owns the truth of the Truth Social Network that Trump places daily – Last Week has announced the launch of Truth.fi.
The fintech-oriented brand said that it would be crypto-released, with $ 250 million cash that would be monitored by Charles Schwab. The announcement said that the brand “Bitcoin and similar cryptocurrencies or crypto-related effects can buy” as a way to diversify its portfolio.
Bitcoin ETFs are enormously successful in the US since the launch in January 2024, the breaking of records and the introduction of billions of dollars in trade volume. The Price of Bitcoin Has partially shot and repeatedly pushes to new high figures in the past year.
President Trump threw himself out like one Bitcoin-Friendly candidate prior to his victory of 5 November. The new supreme commander has promised to help the digital asset industry and has appointed crypto-enthusiastic members in his cabinet.
Published by Andrew Hayward
Daily debrief Newsletter
Start every day with the top news stories at the moment, plus original functions, a podcast, videos and more.
