Close Menu
FintechFetch
    FintechFetch
    • Home
    • Fintech
    • Financial Technology
    • Credit Cards
    • Finance
    • Stock Market
    • More
      • Business Startups
      • Blockchain
      • Bitcoin News
      • Cryptocurrency
    FintechFetch
    Home»Cryptocurrency»Trump Media Firm Plans to Launch a Bitcoin Exchange-Traded Fund 
    Cryptocurrency

    Trump Media Firm Plans to Launch a Bitcoin Exchange-Traded Fund 

    FintechFetchBy FintechFetchFebruary 7, 2025No Comments3 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    On Feb. 6, Trump Media and Technology Group (TMTG), which has the US President as its majority owner, filed to register trademarks for new investment vehicles under its fintech brand Truth.Fi.

    Under the new trademarks, the firm plans to offer three types of investment funds. A “Made in America” exchange-traded fund and separately managed accounts (SMA), a “US Energy Independence” ETF and SMA, and a “Bitcoin Plus” ETF and SMA.

    “Safe to say first-ever POTUS ETF issuer. What a country,” exclaimed Bloomberg ETF analyst Eric Balchunas.

    Trump is going to launch a Bitcoin Plus ETF. Safe to say first-ever POTUS ETF issuer. What a country.. pic.twitter.com/Oak9TyWtaV

    — Eric Balchunas (@EricBalchunas) February 6, 2025

    Trump to Become an ETF Issuer

    The plan involves up to $250 million custodied by Charles Schwab, with Yorkville Advisors providing guidance. TMTG CEO Devin Nunes stated these funds are meant to provide alternatives to what he called “woke funds.”

    “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 market.”

    “We’re exploring a range of ways to differentiate our products, including strategies related to Bitcoin,” he added.

    “Despite Trump’s brand, these will likely be microscopic in asset gathering compared to IBIT [BlackRock iShares Bitcoin Trust], FBTC [Fidelity Wise Origin Bitcoin Fund], et al. That said, just the fact they launching it adds to the ‘mainstreamification’ narrative, which matters,” commented Balchunas.

    TMTG has over $700 million in cash or such equivalents as of year-end, in addition to the $250 million Schwab custody arrangement. The company’s stock (DJT) rose about 5.6% after the announcement.

    Despite yet more positive news for the sector, Bitcoin and crypto markets were still in retreat as the week came to a close. Trump’s son Eric said it was “a great time to enter BTC” this week, yet there was still no reaction.

    Trump Meme Takes a Hit

    Even Donald Trump’s official meme coin (TRUMP) didn’t react to the news. The token declined 6% on the day and was trading at $17.50 at the time of writing.

    TRUMP is now down 76% from its all-time high of $73 just three weeks ago as meme coins took a beating in the broader market retreat.

    There was also no reaction in Bitcoin markets, with the asset falling to an intraday low of $95,800 before a marginal recovery to reclaim $97,000 during Friday morning trading in Asia.

    Additionally, spot BTC ETFs in the US were also in the red yesterday, with an outflow of $140 million following two days of inflows.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleThis FTSE AIM travel business could absolutely skyrocket in 2025
    Next Article Unlocking Optimism: A Web3 User Guide to Optimism Layer 2 Network
    FintechFetch
    • Website

    Related Posts

    Cryptocurrency

    Crypto Analysts Spot Bullish Signal: Ethereum Targets $5K Milestone

    August 7, 2025
    Cryptocurrency

    Cardano (ADA) Could Explode by 75%, But Under This Condition (Analyst)

    August 7, 2025
    Cryptocurrency

    Will ENA Smash the $0.65 Barrier After 12% Rally?

    August 7, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    Chainlink In Rally Mode: Rising Channel Formation Signals Continued Climb

    May 20, 2025

    2023’s Best American Express Credit Cards

    February 5, 2025

    Singapore Reports S$1.2 Million in Losses from Phishing Scams Targeting Mobile Wallets

    February 18, 2025

    5 Ways Artificial Intelligence Can Support SMB Growth at a Time of Economic Uncertainty: By Dmytro Spilka

    June 28, 2025

    ‘Dogecoin In May And Walk Away,’ Predicts Analyst

    April 29, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    Most Popular

    PEPE Explodes by 16% Daily, Bitcoin Price Calms at $83K After CPI Data (Market Watch)

    March 13, 2025

    SUI Jumps by 9% Daily, BTC Price Recovers $5K (Weekend Watch)

    June 7, 2025

    Elon Musk Posted Nearly 200 Times on X In 24 Hours

    February 7, 2025
    Our Picks

    Is It Finally Time to PUMP? PUMP Price Analysis Shifts Bullish Amid Bitcoin Strength

    August 7, 2025

    Crypto Analysts Spot Bullish Signal: Ethereum Targets $5K Milestone

    August 7, 2025

    How much do you need in a SIPP to target a £1,250 monthly second income?

    August 7, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2024 Fintechfetch.comAll Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.