Trump Media & Technology Group (DJT), the company behind former President Donald Trump’s media initiatives, is setting its sights on the burgeoning cryptocurrency market with plans to launch a Bitcoin exchange-traded fund (ETF). This new venture, called the “Bitcoin Plus ETF,” signals another step in Trump’s financial involvement with the digital asset surge that gained momentum following his presidency.
The announcement comes as Trump Media has filed for trademarks under its new Truth.Fi brand for a variety of ETFs, including ones focused on American energy, manufacturing, and crypto. These efforts reflect Trump’s ongoing commitment to offering investment products that align with his economic priorities.
A Focus on Economic Priorities and Crypto
Devin Nunes, CEO of Trump Media, explained that the goal of Truth.Fi is to provide investors with opportunities in areas that resonate with Trump’s vision. “We aim to give investors a means to invest in American energy, manufacturing, and other firms that offer a competitive alternative to ‘woke funds’ and debanking problems,” Nunes said in a press release. He also emphasized that the company is exploring ways to include Bitcoin-related strategies in its offerings.
Trump Media’s focus on crypto mirrors his broader political stance, having supported the digital assets industry and even pledging to make the U.S. the “crypto capital of the planet” during his campaign. The launch of the “TRUMP” and “MELANIA” meme coins, created on the Solana blockchain, marked one of the early moves to tap into the crypto market.
Trump’s Influence in Crypto Regulation
Trump’s influence in the crypto industry also extends to regulatory efforts. In his first week as president, Trump established a working group focused on creating clear regulations for digital assets. The group, chaired by White House AI and crypto czar David Sacks, aims to assess the potential for a national digital asset stockpile and bring regulatory clarity to the market.
At a recent virtual address at the World Economic Forum, Trump reaffirmed his support for the sector, stating that he intends to make the U.S. a leader in both artificial intelligence and cryptocurrency.
Strategic Investments and Industry Partnerships
Trump Media’s new initiative, Truth.Fi, plans to allocate up to $250 million into cryptocurrencies and related investments. To manage these funds, the company has partnered with Charles Schwab, one of America’s most reputable financial institutions, which will provide custody services for the assets.
The Truth.Fi ETFs will undergo a registration process and will be managed by Yorkville Advisors, a registered investment adviser. However, the launch of these ETFs will require approval from the Securities and Exchange Commission (SEC). Trump’s nominee for SEC chair, Paul Atkins, has yet to be confirmed by the Senate, and the agency is currently being led by acting Chair Mark Uyeda.
SEC and Crypto Regulation: A Shift in Strategy
Under the leadership of SEC Commissioner Hester Peirce, the agency has taken steps to ease regulatory hurdles for the crypto industry. One such move was the elimination of SAB 121, an accounting guideline that had posed challenges for U.S. banks holding cryptocurrency. Peirce celebrated the change with a post on X, stating, “Bye, bye SAB 121! It’s not been fun.”
Trump’s push for clearer regulations and his efforts to combine crypto with traditional finance could signal significant changes for the sector in the years to come. With major financial institutions like Charles Schwab involved and a growing regulatory framework, Trump Media’s Bitcoin ETF and other Truth.Fi products may provide a unique bridge between the crypto world and traditional markets.
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