Trump Media & Technology (DJT) is rallying 8% after the company announced that it had adopted a "financial services and (fintech) strategy." As part of the latter undertaking, it is launching the brand name "Truth.Fi."

Trump Media's Financial Services and Fintech Initiative

DJT reported that it would invest as much as $250 million in "investment vehicles." Specifically, the funds may be utilized to create customized separately managed accounts (SMAs), customized ETFs, and "Bitcoin and similar cryptocurrencies or crypto-related securities." More "traditional investment vehicles" will also be launched.

The company indicated that individuals will be able to invest in these vehicles, as CEO Devin Nunes said in a statement that "Developing American First investment vehicles is another step toward our goal of creating a robust ecosystem through which American patriots can protect themselves from the ever-present threat of cancellation, censorship, debanking, and privacy violations committed by Big Tech and woke corporations.”

Charles Schwab (SCHW) will be the custodian of the funds allocated by DJT and will " broadly advise on... Truth.Fi investments and strategy," DJT explained. SCHW will also help develop the SMAs.

"Yorkville Advisors (will be) the Registered Investment Adviser for investment vehicles and financial products," DJT noted.

The Recent Price Action of DJT Stock

In the last month, the shares are down 5%, while they have tumbled 19% in the last three months.

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Disclosure: None. This article is originally published at Insider Monkey.