TechFlow reports that on February 3, U.S. President Trump signed an executive order to establish the country's first sovereign wealth fund within the next year. Treasury Secretary Bessent stated the fund will generate value by unlocking assets on the U.S. balance sheet. The order requires the Treasury and Commerce Departments to submit detailed proposals within 90 days regarding funding mechanisms, investment strategies, and governance models.
One potential implementation path involves transforming the function of the U.S. International Development Finance Corporation (DFC). Trump has nominated Benjamin Black, managing partner at Fortinbras Enterprises, to lead the agency. However, experts note that due to the current U.S. budget deficit, establishing the fund and securing its funding may require congressional approval. Trump previously suggested raising funds through tariffs to finance national priority projects such as infrastructure, manufacturing, and medical research.
Bitcoin supporter Senator Lummis responded positively on social media, hinting at the possibility of Bitcoin investments, drawing market attention. Currently, the world's largest sovereign fund—the Norwegian Sovereign Wealth Fund—indirectly holds around $400 million in Bitcoin, while the Abu Dhabi Sovereign Fund has frequently invested in crypto projects. Following the announcement, Bitcoin extended gains to rise 5%, surpassing $102,000.
