On Feb. 6, Trump Media and Technology Group (TMTG), which has the US President as its majority owner, filed to register trademarks for new investment vehicles under its fintech brand Truth.Fi.

Under the new trademarks, the firm plans to offer three types of investment funds. A “Made in America” exchange-traded fund and separately managed accounts (SMA), a “US Energy Independence” ETF and SMA, and a “Bitcoin Plus” ETF and SMA.

“Safe to say first-ever POTUS ETF issuer. What a country,” exclaimed Bloomberg ETF analyst Eric Balchunas.

Trump is going to launch a Bitcoin Plus ETF. Safe to say first-ever POTUS ETF issuer. What a country.. pic.twitter.com/Oak9TyWtaV

Trump to Become an ETF Issuer

The plan involves up to $250 million custodied by Charles Schwab, with Yorkville Advisors providing guidance. TMTG CEO Devin Nunes stated these funds are meant to provide alternatives to what he called “woke funds.”

“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.”

“Were exploring a range of ways to differentiate our products, including strategies related to Bitcoin,” he added.

“Despite Trump’s brand, these will likely be microscopic in asset gathering compared to IBIT [BlackRock iShares Bitcoin Trust], FBTC [Fidelity Wise Origin Bitcoin Fund], et al. That said, just the fact they launching it adds to the ‘mainstreamification’ narrative, which matters,” commented Balchunas.

TMTG has over $700 million in cash or such equivalents as of year-end, in addition to the $250 million Schwab custody arrangement. The companys stock (DJT) rose about 5.6% after the announcement.

Despite yet more positive news for the sector, Bitcoin and crypto markets were still in retreat as the week came to a close. Trump’s son Eric said it was “a great time to enter BTC” this week, yet there was still no reaction.

Trump Meme Takes a Hit

Even Donald Trump’s official meme coin (TRUMP) didn’t react to the news. The token declined 6% on the day and was trading at $17.50 at the time of writing.

TRUMP is now down 76% from its all-time high of $73 just three weeks ago as meme coins took a beating in the broader market retreat.

There was also no reaction in Bitcoin markets, with the asset falling to an intraday low of $95,800 before a marginal recovery to reclaim $97,000 during Friday morning trading in Asia.

Additionally, spot BTC ETFs in the US were also in the red yesterday, with an outflow of $140 million following two days of inflows.