Trump Media
is expanding into financial services, including investment vehicles, the firm announced Wednesday.
Shares of the Truth Social parent company, which trade under the ticker DJT, jumped 6.8% on Wednesday. President Donald Trump indirectly owns 114,750,000 shares of the company, held in a revocable trust.
The financial services division will be known as Truth.Fi, and it will be started with up to $250 million from the company that will be custodied with brokerage firm Charles Schwab
, according to a news release. That money will be allocated to customized exchange-traded funds and cryptocurrencies, among other investment vehicles.
