Trump Media is moving into the financial services industry

President Donald Trump’s social media company is moving to position itself as a financial services firm that will allow his supporters to put money into investment products geared to what the company has called the “patriotic economy.”

Trump Media &Technology Group, the parent company of the Truth Social platform, said Thursday that it had applied for trademark applications for a number of investment products, including several exchange-traded funds, which are similar to mutual funds.

The products, which Trump Media said would be available this year, will bear names such as “Truth.Fi Made in America ETF” and “Truth.Fi Bitcoin Plus ETF.” Trump Media applied late last year to trademark the Truth.Fi name, which it described in its application as a platform for financial custody services and trading in digital assets.

Trump and his family started embracing digital currencies last year by partnering with a new digital assets company called World Liberty Financial. Last month, the president said he was starting a memecoin — a type of cryptocurrency that is more of a novelty item than something more established like bitcoin.

“We will continue to fine tune our intended product suite to develop the optimal mix of offerings for investors who believe in America First principles,” Devin Nunes, CEO of Trump Media and a former member of Congress from California, said in a news release.

Dennis Kelleher, CEO of Better Markets, a nonprofit that pushes for more transparency on Wall Street, said the move by Trump Media into the financial arena posed a potential conflict of interest.

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