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Trump Orders Creation of Sovereign Wealth Fund
Such a fund could be a vehicle through which the government might accumulate bitcoin.
Feb 3, 2025, 6:34 p.m.
What to know:
- The U.S. president signed an executive order directing the creation of a sovereign wealth fund.
- The Treasury and Commerce Departments are set to spearhead the effort.
- Though bitcoin wasn't mentioned at the signing, the fund could conceivably house the government's bitcoin holdings.
U.S. President Donald Trump signed an executive order Monday afternoon charging the Treasury and Commerce Departments with creating a sovereign wealth fund.
While Treasury Secretary Scott Bessent has expressed at least cautious interest in crypto, Commerce Secretary nominee Howard Lutnick has been a loud champion for the sector. His bond trading powerhouse Cantor Fitzgerald is the custodian for stablecoin giant Tether's massive holdings of government paper, and Lutnick himself has talked about his own personal massive exposure to bitcoin .
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Appearing alongside Trump in the Oval Office Monday, Bessent said he expected the sovereign wealth fund to be created in the next 12 months. While bitcoin reportedly was not mentioned at the signing, a sovereign wealth fund could potentially be a vehicle through which the government might buy and hold the crypto.
Bitcoin rose modestly to $99,600 in wake of the executive order news.
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The UK’s crypto rulebook is finally taking shape
A long-awaited crypto regime in the U.K. is moving from theory to execution, even if firms must wait until 2027 for full clarity.
Ano ang dapat malaman:
- The U.K. has entered the decisive phase of building a full crypto licensing regime set to go live in October 2027.
- The FCA is adapting existing financial services rules to crypto while introducing bespoke market integrity measures.
- Stablecoins, DeFi and cross-border reach remain the most consequential — and unresolved — pressure points.
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