Trump Media & Technology Group Corp. is expanding beyond social networks, establishing its financial services with a list of investment products that reflect the priorities of President Donald Trump.
The company, which operates the social conservative truth platform, has been applied to the brand registered six investment vehicles under the Truth brand.
According to a statement Three, three ETFs and three accounts administered separately, will be part of the truth, a new financial platform subject to regulatory approval.
The pivot indicates a broader impulse between conservative companies and investors to create alternatives to what they see as a financial industry dominated by progressive values.
“Our goal is to provide investors with a means to invest in American energy, manufacturing and other companies that provide a competitive alternative to the awakened funds and dependent problems found throughout the market,” said the Trump Media CEO, Devin Nunes, in the statement.
Among the planned offers, the truth. FI Bitcoin Plus ETF stands out. If approved, it would mark the first investment vehicle linked to the president of the United States.
Eric Balchunas, ETF senior analyst in Bloomberg, reacted to the move in an X publication: “Trump will launch a Bitcoin Plus ETF. Sure to say the first ETF Potus sender. What country “.
He added that despite the Trump brand, the funds would probably continue to be “microscopic at the asset meeting” compared to the heavyweights of the industry such as Ishares Bitcoin Trust (ibit) of Blackrock or Fidelity’s Wise Origin Bitcoin Trust ( FBTC).
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Trump Media’s financial services strategy includes a planned investment of up to $ 250 million, guarded by Charles Schwab. The company has also associated with Yorkville Advisors, which will act as an investment advisor for planned funds.
The measure is produced in the middle of a growing political battle on finance. Environmental, social and governance investment (ESG) has become an inflammation point for conservative critics that argue that Wall Street is prioritizing political agendas on the value of shareholders.
The states led by Republicans have sued the main asset administrators such as Blackrock Inc. and State Street Corp., accusing them of promoting ESG initiatives at the expense of traditional industries such as oil and gas. Trump promised to undo many of these policies if they re -elected.
Trump Media incursion in finance could prove the viability of politically loaded investment products. The company’s actions have been volatile since it was made public through a SPAC fusion, and its ability to attract significant assets to these funds remains uncertain.
Even so, the launch of Truth.FI reinforces the president’s efforts to shape the financial markets around his “America First” agenda, this time, through direct investment vehicles.
However, the announcement could not provide a bartering impulse to Bitcoin. The BTC price came out of its maximum intradic of $ 99,070 to $ 96,590, according to Coinmarketcap data.
Trump has a $ 3.5 billion participation in Trump Media, which represents most of its net assets, according to the Bloomberg billionaire index. The actions are retained in an supervised trust by his son, Donald Trump Jr.
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