U.S. President Donald Trump’s media company, Trump Media and Technology Group (TMTG), is making moves to launch exchange-traded funds (ETFs), including one tracking the price of bitcoin (BTC), according to an announcement on Thursday.

President Trump's social media company, which previously said it was moving into offering investment products, said Thursday that it's taken the first steps toward launching a bitcoin ETF. Why it matters: A company majority owned by the president is launching a financial product that potentially benefits from his policy positions,