PANews reported on February 4 that according to CoinDesk, US President Donald Trump signed an executive order on Monday afternoon requiring the Treasury and Commerce Departments to create a sovereign wealth fund. While Treasury Secretary Scott Bessent has expressed at least cautious interest in cryptocurrencies, Commerce Secretary nominee Howard Lutnick has been an active supporter of the field. Lutnick's bond trading giant Cantor Fitzgerald is the custodian of a large number of government bonds for stablecoin giant Tether, and he himself has talked about his own large personal investment in Bitcoin.
Bessent appeared in the Oval Office with Trump on Monday, where he said he expected the sovereign wealth fund to be created within the next 12 months. While Bitcoin was reportedly not mentioned during the signing ceremony, a sovereign wealth fund could be a way for governments to buy and hold cryptocurrencies.
