- President Donald Trump’s tech company registered trademarks for six investment vehicles it plans to launch with its recently announced fintech platform Truth.Fi. The trademarks are for a series of funds that would invest in Bitcoin, the energy sector, and manufacturing industries.
The fintech arm of President Donald Trump’s tech company is making progress.
On Thursday, the Trump Media & Technology Group (TMTG) announced it had registered six trademarks for exchange-traded funds and separately managed accounts on its newly announced investment platform Truth.Fi. The trademarks included:
- Truth.Fi Made in America ETF
- Truth.Fi Made in America SMA
- Truth.Fi U.S. Energy Independence ETF
- Truth.Fi U.S. Energy Independence SMA
- Truth.Fi Bitcoin Plus ETF
- Truth.Fi Bitcoin SMA
TMTG publicly released its plans to launch its Truth.Fi fintech platform last week. Truth.Fi is the latest in a series of tech platforms that TMTG is building. So far, the company has a streaming service called Truth+, and Truth Social, the X-like microblogging site that was launched after Trump was banned from mainstream social media platforms in the wake of the Jan. 6 Capitol riot+. Truth.Fi signals the company’s intention to also become a player in retail investing in the mold of popular apps like Robinhood. TMTG bills the move as a means to invest in the “Patriot Economy,” a reference to companies and industries deemed to be aligned with conservative politics.
The six recently announced investment vehicles will invest in U.S. energy companies, the manufacturing sector, and cryptocurrencies, including Bitcoin, TMTG said in a press release.
“We will continue to finetune our intended product suite to develop the optimal mix of offerings for investors who believe in America First principles,” said TMTG CEO Devin Nunes.
Truth.Fi does not yet have a confirmed launch date but TMTG said it expects it will be released in 2025. The company will invest up to $250 million in Truth.Fi, which will be custodied by Charles Schwab, according to the press release. TMTG signed a deal with the New Jersey-based investment shop Yorkville Advisors, which will act as its Registered iInvestment Advisor.
“Yorkville is pleased to take this next important step with TMTG in its development of America First investment vehicles,” said Yorkville Advisors president Mark Angelo. “We greatly value our position as a strategic financial partner to TMTG and are proud to join with TMTG in the Truth.Fi movement.”
Yorkville mostly works with small and microcap companies that need bespoke funding solutions. TMTG and Yorkville had already inked a standby equity purchase agreement. That deal gives TMTG the right to direct Yorkville to buy up to $2.5 billion of company stock. In exchange, Yorkville gets the stock at a 97.25% discount to the share price.
TMTG and Yorkville did not immediately respond to Fortune’s request for comment.
TMTG’s foray into building its own investment platform comes at a time when Trump and other Republican leaders are accusing major financial institutions of debanking conservatives. The term “debanking” refers to the idea that certain financial institutions refuse to do business with certain individuals because of their personal politics. The president’s son, Donald Trump Jr. (who is also the sole trustee of the revocable trust that holds Trump Sr’s 114 million TMTG shares), has long accused major banks of refusing to do business with him and his family, often blaming pressure from political opponents. More recently, the president himself entered the fray, citing the CEOs of two of America’s biggest banks by name in a January speech at the World Economic Forum in Davos, Switzerland. Trump accused JPMorgan Chase CEO Jamie Dimon and Bank of America CEO Brian Moynihan of not doing business with conservatives.
“I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank,” Trump said during a Q&A session following his remarks. “You and Jamie and everybody…What you’re doing is wrong.”
Both banks refuted ever denying service to customers based on their political beliefs. In a statement released shortly after Trump’s comments, Bank of America said it had “no political litmus test,” while JPMorgan said it had “never and would never close an account for political reasons, full stop.”
