White House Rejects Trump Fund Proposal

White House Rejects Parts of Trump Advisers’ Sovereign Wealth Fund Proposal

• The White House opposed elements of a sovereign wealth fund proposal by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
• The proposal followed an executive order from President Trump in February to develop a framework for the fund within 90 days.
• Initial speculation suggested the fund might acquire Bitcoin, but it was clarified to focus on warrants, equity, and non-crypto investments.
• A separate executive order established a strategic Bitcoin reserve and digital asset stockpile on March 6.
• There are no final decisions yet, with details of the fund’s structure still under discussion.

The White House has rejected certain aspects of a sovereign wealth fund proposal developed by Trump’s advisers. The plan initially included potential crypto investments, but a separate strategy for Bitcoin was later established. No final decisions have been made regarding the fund’s structure or purpose.