President Donald Trump’s new fintech venture is hoping to launch its own Bitcoin exchange-traded products.
Truth.fi, the new financial arm of Trump Media and Technology Group—of which the president is the majority shareholder—said Thursday that it had applied to register trademarks for brand names for six new investment vehicles.
Of the six vehicles, two will be Bitcoin funds: the Truth.Fi Bitcoin Plus ETF and the Truth.Fi Bitcoin Plus SMA.
ETFs are funds that let speculators buy shares tracking the price of commodities or securities. Top fund managers—including BlackRock and Fidelity—last year launched spot Bitcoin ETFs in the United States, giving more traditional investors the chance to buy exposure to the biggest cryptocurrency.
An SMA, or separately managed account, is a type of investment product that allows clients—particularly high net-worth individuals—to have greater say over what the investment vehicle contains.
“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," said Trump Media CEO and Chairman Devin Nunes.
It's not currently clear what the "Plus" part of the Bitcoin Plus products would entail. Decrypt reached out to Trump Media for comment about what the Bitcoin Plus products will entail, but did not receive an immediate response.
TMTG—which owns the Truth Social network that Trump posts on daily—last week announced the launch of Truth.Fi.
The fintech-focused brand said it would be crypto-involved, with $250 million cash that would be custodied by Charles Schwab. The announcement said that the brand “may buy Bitcoin and similar cryptocurrencies or crypto-related securities” as a way to diversify its portfolio.
Bitcoin ETFs have been wildly successful in the U.S. since launching in January 2024, breaking records and bringing in billions of dollars worth of trading volume. The price of Bitcoin has in part shot up as a result, repeatedly pushing to new all-time high marks over the last year.
President Trump cast himself as a Bitcoin-friendly candidate ahead of his November 5 win. The new commander in chief has promised to help the digital asset industry and has appointed crypto-enthusiastic members to his cabinet.
Edited by Andrew Hayward