By Jack Pitcher
President Trump, who has lent his name to everything from steaks and wine to cryptocurrencies, now wants to sell you investment funds.
Trump’s social-media company, Trump Media & Technology DJT -3.68%decrease; red down pointing triangle, said Thursday that it has applied for trademarks on a series of exchange-traded funds and separately managed accounts. The financial products, which include funds labeled “Made in America” and “Energy Independence,” will launch later this year, Trump Media said.
With this latest venture, the Trump brand will step out of the fringes of the crypto world and into mainstream finance. Few financial products are more widely held, and more beloved, by the average investor than the ETF, investment portfolios that trade like individual stocks and typically boast lower fees and tax advantages over their older cousin, the mutual fund.
“The ETF wrapper has been the most successful financial product in history,” said Dave Nadig, an industry veteran formerly at VettaFi and FactSet. “If you’re going to try to get money from the public into something you can charge fees on, an ETF is an incredibly good way to do that if you’ve got a brand.”
Trump Media’s pivot to financial services, which also entails investing its corporate coffers in bitcoin and other cryptocurrencies, could prove a lifeline for the company as its social-media platform, Truth Social, struggles to generate revenue.
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