US President Donald Trump’s media company, Trump Media and Technology Group (TMTG), takes measures to launch negotiated stock market funds (ETF), including a Bitcoin price (BTC), according to an announcement on Thursday.
The ETF – Three of them in total so far, alongside other planned products – would be launched under the Trump’s Truth.fi brand. The Bitcoin focusing fund, for example, would pass under the name of truth. More ETF Bitcoinifi. The other two funds are the truth. Fi made in America Etf and a truth.
The company plans to launch the products this year, according to the announcement, but has not given more details on the calendar. The American Commission for Securities and Exchange will be responsible for examining and approving these products once deposited. Trump appointed Paul Atkins to be the new president of the Securities and Exchange Commission (SEC) after the departure of Gary Gensler, who left the agency when Trump was inaugurated in January.
“We aim to give investors a way to invest in American energy, manufacturing and other companies that provide a competitive alternative to awakened funds and debannage problems that you find throughout the market,” said The CEO and president of TMTG, diviner nunes in a press release. “We explore a range of ways to differentiate our products, including Bitcoin -related strategies.”
The funds would be kept by Charles Schwab with the Yorkville advisers based in New Jersey acting as an investment advisor.
Several FNB Bitcoin were launched in January 2024 and instantly attracted billions of dollars in capital to a variety of retail and institutional investors. Ishares Bitcoin Trust of BlackRock (IBIT) accumulated more than $ 52.3 billion in assets during its first year (a combination of large entries and the high increase in the price of Bitcoin), which made it the The most successful ETF launch in the history of American ETFs.
According to the analyst of Bloomberg Intelligence Senior ETF, Eric Balchunas, Bitcoin ETF of TMTG will probably not see the same traction, but always has a meaning.
“Despite Trump’s brand, these will probably be microscopic in the collection of assets compared to Ibit, FBTC et al.”, Wrote Balchunas in an article on X. “That said, just the fact [that] they [are] The launch is added to the story of Laamter, which matters. »»
