The Trump family's work grows, with new news today from Trump Media and Technology Group about a money trade fund (ETF) and from Trump Mobile, a firm that Donald Trump Jr. and Eric Trump are part of, which now takes early orders for a new phone. These steps come even as the family's work gets heat from some who think it might look bad on the US head of state.
Trump Media and Technology Group, the name behind the Truth Social site, gave out more facts on its new "Truth Social Bitcoin and Ethereum ETF." They filed with the SEC for this fund, which plans to have Bitcoin and Ethereum in a 75% to 25% share. Crypto.com will cover holding, main deals, and will also take care of staking and how much is there for the ETF.
This step comes after an early filing in June with NYSE Arca for a "Truth Social Bitcoin ETF." Note that in January, the company's board said yes to up to $250 million to make specialized accounts and ETFs under the "Truth.Fi" name. Also, Trump Media just got $2.3 billion via notes that can change and a share sale to fund a special Bitcoin Treasury.
Though President Trump has the most shares in Trump Media and Technology Group, his big share is said to be in a trust run by Donald Trump Jr.
In another move, Trump Mobile now takes pre-orders for its "T1 Mobile" phone, set at $499. They are selling the phone as a way to mark 10 years since President Trump's first run for office.
With the phone, Trump Mobile is pushing a "$47 plan" at $47.45 per month, giving:
- 5G web
- Unlimited calls, texts, and data
- Protection for the device
- Help on the road all day from Drive America
- Access to health service from home
- Free calls to over 100 countries, including US bases.
They call the T1 Mobile a "smooth, gold phone made for good use and made with pride in the United States." It should be on sale in August.
