Trump Media and Technology Group Plans to Launch Bitcoin ETF to Promote Financial Services Expansion

Odaily News Trump Media & Technology Group (TMTG) is expanding into financial services with a slew of new investment products, including a spot Bitcoin ETF, according to a Feb. 6 announcement.
TMTG, of which Trump is the largest shareholder, has applied for trademarks under the Truth.Fi brand to cover multiple ETFs and separately managed accounts (SMAs). One of the planned funds is called the Truth.Fi Bitcoin Plus ETF, which will provide investors with exposure to Bitcoin.
TMTG has partnered with Yorkville Advisors, which will serve as the registered investment advisor for the funds. Yorkville will manage the regulatory process and product structure.
The company also announced plans to invest up to $250 million in financial services, with Charles Schwab acting as custodian. This amount represents more than 35% of TMTG's reported $700 million in cash reserves.
Other planned investment products include the Truth.Fi Made in America ETF and SMA, the Truth.Fi US Energy Independence ETF and SMA, and the Truth.Fi Bitcoin Plus ETF and SMA.
Earlier today, Bloomberg senior ETF analyst Eric Balchunas wrote, “Trump will launch the Bitcoin Plus ETF. It can be said that he will become the first US president to issue an ETF.”