Trump Media Announces Launch of Bitcoin Plus ETF Under Truth.Fi Brand
Donald Trump is set to introduce the Bitcoin Plus ETF, becoming the first U.S. president associated with an ETF launch. His company, Trump Media and Technology Group Corp. (TMTG), is expanding into financial services and has filed trademarks under the Truth.Fi brand for various investment products, including a spot Bitcoin ETF.
- TMTG has partnered with Yorkville Advisors as the registered investment advisor.
- The company committed up to $250 million towards this expansion, representing over 35% of its reported $700 million cash reserves.
- Other offerings include the Made in America ETF and U.S. Energy Independence ETF.
- U.S.-based spot Bitcoin ETFs have seen nearly $40.7 billion in net inflows in just over a year.
- Analysts expect Trump's ETF to be smaller than those from BlackRock and Fidelity, but its launch supports Bitcoin's mainstream acceptance.
TMTG CEO Devin Nunes stated these products aim to provide alternatives to traditional asset management firms, targeting investments in American industries.