Eric Balchunas, a Bloomberg analyst, recently reported that Donald Trump is set to introduce the Bitcoin Plus ETF. This marks a historic moment as Trump would be the first U.S. president linked to an ETF launch. While Trump won’t directly issue the fund, his company, Trump Media and Technology Group Corp. (TMTG), is spearheading the initiative.
TMTG is expanding into financial services and has announced a range of investment products, including a spot Bitcoin ETF. The company has filed trademarks under the Truth.Fi brand for various ETFs and separately managed accounts (SMAs). The Truth.Fi Bitcoin Plus ETF aims to give investors exposure to Bitcoin.
To manage this venture, TMTG has partnered with Yorkville Advisors, who will oversee regulatory matters and product structuring. TMTG has also pledged up to $250 million for this financial services expansion, with Charles Schwab acting as the custodian. This investment represents over 35% of TMTG’s reported cash reserves of $700 million.
In addition to the Bitcoin ETF, TMTG plans to offer other products under the Truth.Fi brand, such as the Made in America ETF and the U.S. Energy Independence ETF. Devin Nunes, TMTG’s Chairman and CEO, described these new financial products as alternatives to traditional asset management firms. He emphasized a focus on Bitcoin and American industries, aiming to counter what he sees as “woke” policies in mainstream funds.
The launch of Bitcoin ETFs comes at a time when institutional interest in cryptocurrency is rising. Following the approval of several spot Bitcoin ETFs in the U.S. last year, these funds have seen significant inflows, totaling nearly $40.7 billion in just over a year.
While analysts suggest that Trump’s ETF may be smaller than those from BlackRock and Fidelity, its introduction is seen as a step toward mainstream acceptance of Bitcoin. Nate Geraci, President of ETF Store, noted the growing connection between ETFs and the crypto market.
