🚀 The Trump family ventures into cryptocurrency investment funds, can their ambitious plans shake up the market?
The Trump Media Technology Group (TMTG) recently intends to launch its own cryptocurrency investment fund, and it’s a Bitcoin Exchange-Traded Fund (ETF)!
This is no joke; they have already applied for trademarks and are preparing to launch three types of funds, including "Made in America," "American Energy Independence," and "Bitcoin Plus" ETFs and separately managed accounts (SMA).
Bloomberg's ETF analyst Eric Balchunas has stated that this marks the first time a U.S. president has issued an ETF, which sounds super cool!
TMTG's CEO Devin Nunes mentioned that their goal is to provide investors with a new way to invest in American energy and manufacturing while offering alternatives to those "woke funds" in the market.
Although these funds may not match the asset-raising power of BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund, their mere existence is an important signal of cryptocurrency "mainstreaming."
Moreover, TMTG currently holds over $700 million in cash and equivalents, along with a $250 million Schwab custody arrangement, indicating a strong financial position.
Despite Trump's son Eric posting yesterday that now is a "great time to buy Bitcoin," the market doesn't seem to have reacted much. Bitcoin and the cryptocurrency market still fell this week, and Trump's official meme coin (TRUMP) also dropped 6% yesterday.
It seems that despite the Trump family's significant ambitions in cryptocurrency, the actual market response ultimately has to return to economic conditions, policy directions, market supply and demand, and other real factors!
💬 Do you think the Trump family will make a comeback in the cryptocurrency field with their unique strategy, or will they ultimately be "slapped in the face" by market realities? Leave your comments in the discussion section!
