Trump Media Introduces ‘Bitcoin Plus’ ETF Expanding Its Crypto Footprint
Trump Media and Technology Group (TMTG), led by Donald Trump, plans to introduce three ETFs, including a Bitcoin-focused fund, before the end of the year.
Trump Media’s new Truth.Fi brand is off to a strong start, backed by $250 million in seed funding. The lineup includes the Truth.Fi Bitcoin Plus ETF, as well as two funds targeting key U.S. sectors—the Truth.Fi Made in America ETF and the Truth.Fi Energy Independence ETF.
Before hitting the market, these ETFs need SEC approval, but at this point, there’s no indication of major roadblocks.
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,
stated Devin Nunes, CEO and Chairman of TMTG.
Donald Trump’s Bitcoin ETF launch could elevate his standing in the crypto world, but experts remain skeptical of its potential.
According to Bloomberg Intelligence analyst Eric Balchunas, while the fund will attract some investment, its market share is expected to be insignificant compared to established ETFs.
Must-read: Trump Effect: Cryptocurrency is Making a Comeback – Ripple CEO
The Bitcoin ETF market is already crowded, with several major funds debuting in early 2024. The king of them all? BlackRock’s iShares Bitcoin Trust (IBIT), managing over $52 billion in BTC and shattering ETF launch records.
In parallel, REX Financial and Osprey Funds are reportedly developing a new ETF based on Trump’s official memecoin, TRUMP. Find out the full details in our dedicated report.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
