Trump Media files trademark for ‘Truth.Fi’ Bitcoin ETF, spearheads plans to launch ‘Made in America’ ETF
- Trump Media is looking to debut the ‘Truth.Fi Made in America ETF,’ ‘Truth.Fi US Energy Independence ETF’ and ‘Truth.Fi Bitcoin Plus ETF,’ along with three others.
Trump Media and Technology Group Corp. applied to trademark brands for six investment products that track Bitcoin and the US manufacturing and energy sectors. These themes are US President Donald Trump’s priorities in office. The company has yet to file for all six products with the US market regulator, the US Securities and Exchange Commission (SEC).
The money-losing social media company is looking to debut the “Truth.Fi Made in America ETF,” “Truth.Fi US Energy Independence ETF” and “Truth.Fi Bitcoin Plus ETF,” along with three other vehicles called separately managed accounts with the same themes on its recently announced Truth.Fi financial platform, subject to regulatory approval.
Trump Media applies for Bitcoin ETF
According to reports, Trump Media and Technology Group is also looking to launch three separately managed accounts (SMAs) focused on these assets in partnership with financial services firm Charles Schwab.
The company, which is majority-owned by Trump, also signed an agreement to have a small New Jersey-based firm, Yorkville Advisors, marshal the products through their approval process and oversee them, formalizing an earlier announcement of Yorkville’s involvement.
SMAs are investment portfolios managed by professional asset managers for individual investors or institutions. The products tie into themes Trump has promised to promote, including imposing tariffs on trade partners, encouraging US manufacturing, expanding oil and gas drilling in federal lands and defending the crypto industry.
Devin Nunes, chief executive officer of Trump Media, said, “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 debunking problems that you find throughout the market."
Last week, news agency Reuters reported that Trump Media had approved the board's launch of a financial services and fintech brand, Truth.Fi. The new products are part of the strategy and include investments of up to $250 million.
The finance pivot for Trump Media, the parent company of Trump’s Truth Social platform, is part of a broader reaction against claims of censorship and “woke” values across corporate America—a debate that increasingly focuses on finance.
In recent years, investment products focused on environmental and social values have permeated the financial industry. Republican-led states have bashed those efforts and sued the companies that sold them, including BlackRock Inc. and State Street Corp.
According to the Bloomberg Billionaires Index, Donald Trump owns a stake in Trump Media worth $3.5 billion, comprising the majority of his net worth. The shares are held in a trust overseen by his son, Donald Trump Jr.
With inputs from Bloomberg and Reuters
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High