Trump Media and Technology Group (TMTG), the parent company of Truth Social, announced plans to create new “America-First” investment funds on Wednesday.
TMTG, founded by President Donald Trump, filed with the Securities and Exchange Commission for five new exchange-traded funds (ETFs) centered around “America-First” principles, the company announced. The proposed funds include the Truth Social American Icons ETF, American Security & Defense ETF, American Next Frontiers ETF, American Energy Security ETF and American Red State REITs (Real Estate Investment Trust) ETF.
ETFs are investment funds that hold a collection of assets often focused on a particular theme or sector. They allow investors to gain exposure to a mix of holdings through a single fund, rather than purchasing each asset individually. (RELATED: Truth Social To Go Public After Investors Approve Merger, Could Net Trump Billions)
TOPSHOT – This illustration photo shows a person checking the app store on a smartphone for “Truth Social”, with a photo of former US president Donald Trump on a computer screen in the background, in Los Angeles, October 20, 2021. (Photo by CHRIS DELMAS/AFP via Getty Images)
TMTG will partner with 1792 Exchange — a conservative non-profit that educates businesses about the risks of “woke” corporate policies — to screen investments for “alignment with the Truth Social brand and America First principles,” according to the press release.
TMTG did not respond to the Daily Caller News Foundation’s request for comment.
Subject to regulatory approval, the ETFs are expected to launch later this year and be widely available on trading platforms.
In recent months, TMTG has also filed for several ETFs holding crypto assets. Collectively, the media company’s investment offerings will be known as the “Truth Social Funds,” according to the announcement.
TMTG was founded in 2021 by Trump with a mission to “end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back.” In December, shortly before taking office, Trump put his $4 billion stake in TMTG into a trust controlled by his son, Donald Trump Jr., meaning he no longer owns shares of the company directly.
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