President Donald Trump’s social media company, Trump Media and Technology Group (TMTG), announced on Thursday that it has initiated a Bitcoin exchange-traded fund (ETF).
Trump Media and Technology Group (TMTG) announced on Thursday the launch of a Bitcoin exchange-traded fund (ETF) as part of its broader financial offerings.
The company, founded by former President Donald Trump, said in a statement that it has applied for trademarks related to its upcoming financial products, which will be branded under the new Truth.Fi label.
This brand will include a range of financial services and technology offerings, such as customized Bitcoin ETFs and separately managed accounts (SMAs).
The launch of Truth.Fi forms a key part of Trump's media group strategy to integrate financial services with its existing platforms, including Truth Social and Truth+, which focus on social media and video streaming, respectively.
To support these initiatives, TMTG said it plans to invest up to $250 million, which will be custodied by Charles Schwab (NYSE:SCHW). This partnership is intended to enhance the development of the new SMAs, indicating TMTG's commitment to establishing a robust financial infrastructure.
In a statement, Devin Nunes, CEO and Chairman of Trump Media and Technology Group, outlined the company's vision for its financial products.
“We aim to give investors a means to invest in American energy, manufacturing, and other firms that provide a competitive alternative to the woke funds and debanking problems that you find throughout the
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