Trump Media and Technology Group (TMTG) intends to launch exchange-traded funds (ETFs) and separately managed accounts (SMAs) tied to its Truth Social platform, which includes investment strategies related to Bitcoin (BTC).
According to a Feb. 6 announcement, TMTG — which is majority-owned by US President Donald Trump — has filed trademark registrations for various ETFs and SMAs tied to the Truth Social platform and Truth+ video streaming service.
The trademarks include Truth.Fi Made in America ETF, Truth.Fi Made in America SMA, Truth.Fi US Energy Indepedence ETF, Truth.Fi US Energy Independence SMA, Truth.Fi Bitcoin Plus ETF and Truth.Fi Bitcoin Plus SMA.
TMTG chairman and CEO Devin Nunes, who also serves in the Trump administration as chairman of the President’s Intelligence Advisory Board, said the funds give investors the ability to invest in “American energy, manufacturing, and other firms that provide a competitive alternative to the woke funds and debanking problems” he says are found in other parts of the market.
This strategy includes “exploring a range of ways to differentiate our products, including strategies related to Bitcoin,” said Nunes.
The proposed Truth.Fi funds include an initial investment of up to $250 million to be custodied by Charles Schwab, the announcement said. New Jersey-based Yorkville Advisors will serve as the registered investment adviser for the new products.
TMTG was founded in 2021 and went public in March 2024. Its stock currently trades on the Nasdaq.
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Trump’s crypto MAGA promise
President Trump has promised that cryptocurrencies will flourish under his administration. This was further reiterated on Feb. 4 when Republican congressional leaders said they would form a working group to focus on crypto and stablecoin legislation.
“We don’t want to be behind in financial technology and digital assets in the United States,” said Arkansas Representative French Hill.
Senator Tim Scott, Rep. French Hill and Senator John Boozman reiterate Republicans’ push for pro-crypto legislation. Source: US Senate Banking Committee
On the same day that Republicans announced their renewed regulatory push for pro-crypto legislation, Securities and Exchange Commission Commissioner Hester Peirce vowed to fix the “mess” that former SEC Chair Gary Gensler left behind regarding crypto.
According to Peirce, the White House’s newly formed Crypto Task Force is recommending that the SEC “provide temporary prospective and retroactive relief for coin or token offerings” that were unfairly targeted by the previous regime.
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