Trump’s Bitcoin ETF: The Wildest Investment Idea Yet! 💰đŸ€Ș

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What to know:

  • So, U.S. President Donald Trump’s media company is diving into the wild world of exchange-traded funds. Yes, you heard that right—ETFs! And one of them is going to track bitcoin. Because why not? đŸ€·â€â™‚ïž
  • They claim they’ll roll these beauties out this year. I mean, who doesn’t want to invest in a fund that sounds like it was named by a toddler?
  • These funds will be under the banner of Trump’s Truth.Fi brand. Because “Truth” and “Fi” go together like peanut butter and jelly, right?

So, here’s the scoop: Trump Media and Technology Group (TMTG) is all set to launch a few ETFs, including one that’s all about bitcoin (BTC). They made this grand announcement on Thursday, probably while eating a Big Mac. 🍔

They’re planning three ETFs so far, and one of them is the Truth.Fi Bitcoin Plus ETF. Sounds fancy, doesn’t it? The other two are the Truth.Fi Made in America ETF and the Truth.Fi Energy Independence ETF. Because nothing says “freedom” like a fund named after a slogan! đŸ‡ș🇾

Now, they say they’ll launch these products this year, but of course, they didn’t bother to give us a timeline. Classic! The U.S. Securities and Exchange Commission will have to give these a thumbs up, which is like asking your mom if you can go out after curfew. Good luck with that! 🙄

TMTG CEO Devin Nunes, in a statement that probably took longer to write than the actual product, said they want to give investors a way to invest in “American energy, manufacturing, and other firms.” Because, you know, the market is just overflowing with “woke funds” and “debanking problems.” What a time to be alive!

These funds will be managed by Charles Schwab, with Yorkville Advisors giving them some “expert” advice. I mean, who wouldn’t want investment advice from a place that sounds like a fancy hotel? 🏹

Now, let’s talk about the competition. Several spot bitcoin ETFs launched in January 2024 and raked in billions. BlackRock’s iShares Bitcoin Trust (IBIT) alone pulled in over $52.3 billion in its first year. That’s like winning the lottery, but for finance nerds! 🎰

But according to Bloomberg’s ETF analyst Eric Balchunas, TMTG’s bitcoin ETF probably won’t be the next big thing. He said it’ll likely be “microscopic” compared to IBIT. Ouch! But hey, at least they’re trying, right? Just the fact that they’re launching it adds to the “mainstreamification narrative.” Whatever that means!

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2025-02-06 19:33