Trump Media & Technology Group Corp (NASDAQ:DJT), the parent company of Truth Social, is expanding into financial services with a series of investment products under the "Truth.Fi" brand, the company announced Thursday.
The move aligns with themes championed by President Donald Trump, including US energy independence, domestic manufacturing, and cryptocurrency.
TMTG has applied to trademark six investment products, including the “Truth.Fi Made in America ETF,” “Truth.Fi U.S. Energy Independence ETF,” and “Truth.Fi Bitcoin Plus ETF.” In addition, the company plans to introduce separately managed accounts with similar themes, pending regulatory approval.
“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,” said TMTG CEO Devin Nunes.
Trump, who holds a majority stake in TMTG valued at $3.5 billion, has positioned the company as a vehicle for his political and economic priorities.
Shares of TMTG gained 6.6% in afternoon trading Thursday.