Donald Trump's Trump Media & Technology Group to Launch Bitcoin ETF
Trump Media & Technology Group (DJT), owned by former US President Donald Trump, has announced plans to launch a bitcoin exchange-traded fund (ETF) under its Truth.Fi brand. The "Bitcoin Plus ETF" is part of a series of ETFs focused on areas that align with Trump's economic policies.
According to DJT's CEO, Devin Nunes, investors in the Bitcoin Plus ETF will gain exposure to American energy, manufacturing, and other sectors supported by Trump's agenda.
Trump's Crypto Ambitions and Regulatory Push
This announcement highlights Trump's continued involvement in the cryptocurrency industry. Last year, he pledged to make the US a crypto hub, launched meme coins for himself and former first lady Melania Trump, and supported the creation of World Liberty Financial, a crypto project.
As president, Trump signed an executive order establishing a task force to regulate digital assets and evaluate the creation of a national digital asset stockpile. He also expressed support for crypto at the World Economic Forum.
Truth.Fi and Regulatory Landscape
Trump Media's ETF launch requires approval from the Securities and Exchange Commission (SEC). Trump's SEC nominee, Paul Atkins, is awaiting Senate confirmation.
The SEC, under acting chair Mark Uyeda, has formed a crypto task force led by Commissioner Hester Peirce, who recently eliminated an accounting rule that hindered US banks' involvement in crypto.
Key Points
* Trump Media & Technology Group plans to launch a Bitcoin Plus ETF.
* The ETF will align with Trump's economic priorities.
* Trump has been actively involved in the cryptocurrency industry.
* The regulatory landscape for crypto is evolving under the SEC's task force.
* The Bitcoin Plus ETF launch highlights the intersection of crypto and traditional finance.