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.

Trump Media to launch American First themed ETFs, including Bitcoin, emphasizing US manufacturing and energy independence.

The cryptocurrency market experienced a downturn on Thursday, with the global market capitalization falling 1.4% to $3.15 trillion, amid significant developments in institutional adoption and mixed traditional market performance.

Just days after President Donald Trump's media firm launched its Truth.Fi fintech venture, it's already plotting Bitcoin investment products.

Trump Media and Technology Group said on Thursday it has applied to trademark six investment products that track manufacturing and energy sectors.

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,