President Donald Trump’s majority-owned company, Trump Media and Technology Group Corp. (TMTG), is preparing to introduce exchange-traded funds (ETFs) and separately managed accounts (SMAs) under the Truth.FI brand. 

The company has applied for trademarks related to these investment vehicles, including a Bitcoin (BTC) ETF.

Trump’s ETF Venture

The proposed investment products include the Truth.Fi Made in America ETF and SMA, Truth.Fi US Energy Independence ETF and SMA, and Truth.Fi Bitcoin Plus ETF and SMA. These offerings are designed to appeal to investors aligned with the company’s “America First” principles.

“We’re exploring a range of ways to differentiate our products, including strategies related to Bitcoin. 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.

Nunes emphasized that the goal of Truth.Fi is to provide investors with alternatives to traditional financial products. These products, he claims, are influenced by “woke funds and debanking problems.”

TMTG plans to allocate up to $250 million to these financial instruments as part of this initiative. Charles Schwab will act as the custodian. 

Meanwhile, Yorkville Advisors will serve as the Registered Investment Advisor, overseeing product development and regulatory approvals.

The announcement has sparked discussion among financial analysts and ETF experts. Bloomberg’s senior ETF analyst, Eric Balchunas, noted that despite Trump’s brand recognition, these ETFs may struggle to gather significant assets compared to existing products like the iShares Bitcoin Trust ETF (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC).

However, he acknowledged their contribution to the broader adoption of Bitcoin in mainstream finance.

“Safe to say first-ever POTUS ETF issuer. What a country,” Balchunas remarked.

Meanwhile, economist and vocal Bitcoin critic Peter Schiff speculated that the move could reduce the likelihood of a US Bitcoin Strategic Reserve. 

“Well if this does in fact happen, I think it takes a Bitcoin Strategic Reserve off the table, if it ever really was on the table to begin with,” he stated.

While TMTG is expanding its financial footprint, Trump’s other financial venture has faced challenges. The Official Trump (TRUMP) meme coin, in particular, has struggled in the market after its initial hype faded.

The price has declined significantly after reaching an all-time high of $73.4. It was trading at $17.6 at press time, reflecting a 7.6% drop in the past 24 hours.

This represents a 76.0% decrease from its record high. Moreover, the market continues to remain under a bearish stronghold.

Approximately $3.12 billion worth of Bitcoin (BTC) and Ethereum (ETH) options expire today. With the pioneer crypto still below $100,000 this week, will its billion-dollar-plus notional value expiry push the price higher? 

Market watchers are particularly attentive to this event due to its potential to influence short-term trends through the volume of contracts and their notional value. Examining the put-to-call ratios and maximum pain points can provide insights into traders’ expectations and possible market directions.

Insights on Today’s Expiring Bitcoin and Ethereum Options

The notional value of today’s expiring BTC options is $2.56 billion. Deribit’s data shows that the 26,251 expiring Bitcoin options have a put-to-call ratio 0.57. This ratio suggests a prevalence of purchase options (calls) over sales options (puts).

The data also reveals that the maximum pain point for these expiring options is $99,500. The maximum pain point is the price at which the asset will cause the greatest number of holders’ financial losses.

In addition to Bitcoin options, 204,376 Ethereum options contracts are set to expire today. These expiring options have a notional value of $557.04 million, a put-to-call ratio of 0.46, and a maximum pain point of $2,950.

The number of today’s expiring Bitcoin and Ethereum options is significantly lower than last week’s. BeInCrypto reported that last week’s expired BTC options were 80,179 contracts, compared to 603,426 for ETH.

This marginal difference comes from last week’s options, which represented the month’s total. Accordingly, the total number of options expiring surpassed $10 billion.

Ahead of the expiration, options trading tool provider Greeks.live shared its insights into the market. It highlighted the prevailing weak sentiment in the market this week and explained why the max pain levels for BTC and ETH were below the $100,000 and $3,000 levels, respectively.  

“Market sentiment was weaker this week, with ETH’s Maxpain point falling below $3,000 again, with the coin dropping to $2,100 at one point during the session, a new low since 2024, and BTC effectively falling below the $100,000 mark, around which the market has been oscillating in a wide range since it broke above $95,000 in late November,” Greeks.live said.

Against this backdrop, the options trading tool indicates the role of US President Donald Trump’s tariffs in influencing sentiment. As BeInCrypto reported, the trade policies were a key market driver this week, having caused the largest single-day liquidation event in history. Traders remain wary of potential trade wars, which could exacerbate sentiment further.

Therefore, the analysts at Greeks.live ascribe current volatility to these concerns, citing expectations of further market adjustments.

“The market is still digesting the effects of 3 months of Trump Trade, with deliveries accounting for 10% of total positions this week, with call options trading down significantly and Block puts growing as a percentage of volume,” the analysts added.

Nevertheless, the influence of macroeconomics cannot be overlooked. With US Unemployment and Non-Farm Payrolls data for January expected today, traders will be looking for how these macro events influence markets, with overall risk in the crypto sector now more correlated.

“Today’s market movers: An uptick in unemployment could drive interest in Bitcoin as a hedge against economic instability. A drop might see investors favoring traditional markets. Strong payroll numbers could signal economic health, potentially reducing Bitcoin’s safe-haven appeal. Weak numbers might enhance Bitcoin’s attractiveness as an investment during times of economic uncertainty,” crypto analyst Mark Cullen observed.

The Senate Commerce, Science, and Transportation Committee advanced the candidacy of Howard Lutnick, a crypto proponent and billionaire entrepreneur, to the position of Commerce secretary by a vote of 16–12.

America’s technological and financial scene undergoes a radical change and a wealthy man with strong ties to cryptocurrencies is leading important national initiatives valued in hundreds of billions of dollars.

Lutnick: Major Tech Programs Hang In The Balance

Lutnick’s appointment places him in charge of the $280 billion CHIPS and Science Act and the massive $42.5 billion BEAD program. These figures don’t only appear on paper; they reflect America’s determined efforts to transform its semiconductor sector and technical infrastructure. With global tech supremacy on the line, the stakes are higher than ever.

Warren’s Crypto Concerns Spark Fierce Debate

The confirmation hasn’t been without its share of fireworks. Senator Elizabeth Warren has thrown down the gauntlet, demanding answers about Lutnick’s ties to Tether, the controversial stablecoin issuer.

Her January 28 letter pulled no punches, questioning everything from Cantor Fitzgerald’s investment in Tether to potential compliance issues. The plot thickened when it emerged that Lutnick’s financial disclosure form detailed assets worth over $806 million and involvement in 800 entities.

Washington is split by the confirmation as Ranking Member Maria Cantwell voted against Lutnick, citing inadequate dedication to current program goals. One thing is evident as this billionaire entrepreneur takes on his new position: the tech and crypto scene of America is set to change and might even completely alter the digital future of the country.

Cruz Champions Tech Policy

While Warren raises red flags, fellow Senator Ted Cruz is upbeat about what he sees as a victory for tech innovation. His vision? A complete reimagining of the BEAD program, moving away from its fiber-optic focus to embrace alternatives like satellite internet and fixed wireless. It’s a stark departure from previous policies, with Cruz dismissing the former Biden administration’s approach as riddled with “lawless conditions.”

WATCH: The Senate Commerce Committee meets to advance Howard Lutnick as Secretary of Commerce and to move critical pieces of legislation, including the Kids Off Social Media Act, the AM Radio for Every Vehicle Act, the Fire Ready Nation Act, and the Illegal Red Snapper and Tuna… pic.twitter.com/FmVwLSkdk6

— Senator Ted Cruz (@SenTedCruz) February 5, 2025

Bitcoin Dreams And Stablecoin Schemes

Lutnick is open about his plans for cryptocurrency. At the 2024 Bitcoin Conference in Nashville, he confidently stated that cryptocurrency is “the future of financial independence.” He wants to require checks for stablecoins and might create a national Bitcoin reserve. This idea has made crypto fans excited but has worried traditional finance regulators.

The newly formed SEC Crypto Task Force, under Commissioner Hester Peirce, will work closely with Lutnick to navigate these uncharted waters.

Featured image from Pexels, chart from TradingView