Trump's TMTG Launches "Truth.FI" ETFs, Including Bitcoin, Aiming to Appeal to "America First" Investors

Trump Media and Technology Group Corp. (TMTG), majority-owned by former President Donald Trump, is set to introduce a range of exchange-traded funds (ETFs) and separately managed accounts (SMAs) under the Truth.FI brand. The company has applied for trademarks related to these investment vehicles, including a Bitcoin (BTC) ETF.

The proposed investment products include the Truth.Fi Made in America ETF and SMA, Truth.Fi US Energy Independence ETF and SMA, and Truth.Fi Bitcoin Plus ETF and SMA. These offerings aim to appeal to investors who align with the company’s “America First” principles. TMTG CEO Devin Nunes stated that the company is exploring various strategies to differentiate its products, including those related to Bitcoin. The goal of Truth.Fi is to provide investors with alternatives to traditional financial products, which Nunes claims are influenced by “woke funds and debanking problems.”

TMTG plans to allocate up to $250 million to these financial instruments, with Charles Schwab acting as the custodian. Yorkville Advisors will serve as the Registered Investment Advisor, overseeing product development and regulatory approvals.

The announcement has sparked discussion among financial analysts and ETF experts. While some question the ability of these ETFs to gather significant assets compared to existing products, they acknowledge their contribution to the broader adoption of Bitcoin in mainstream finance. Meanwhile, economist and vocal Bitcoin critic Peter Schiff speculated that the move could reduce the likelihood of a US Bitcoin Strategic Reserve.

While TMTG is expanding its financial footprint, Trump’s other financial venture, the Official Trump (TRUMP) meme coin, has faced challenges. The price of the TRUMP meme coin has declined significantly after its initial hype, trading at $17.6 at press time and reflecting a 76.0% decrease from its record high.