On February 3, local time, President Trump signed an executive order directing government officials to establish a sovereign wealth fund and appoint Treasury Secretary Scott Bernt and Commerce Secretary nominee Howard Lutnick to lead the effort.

- Establishment time: Bezent pointed out that the sovereign wealth fund will be established in the next 12 months.
Trump once promised to use Bitcoin as a strategic reserve for the United States, so some speculate that the sovereign wealth fund is being prepared to establish a Bitcoin reserve. In his cabinet, Treasury Secretary Benson has shown some interest in cryptocurrency, and the nominee for Commerce Secretary is a staunch supporter of the crypto industry, increasing speculation that the sovereign wealth fund may be used to purchase Bitcoin and other cryptocurrencies.

The market's response to this event is complex, and the cryptocurrency market as a whole is highly volatile. On February 3rd, Bitcoin fell below $92,000, with an intraday decline of over 7%; Ethereum fell more than 26% at one point, and Dogecoin and Cardano both plummeted over 30% intraday. However, some analysts believe that in the long run, if sovereign wealth funds do invest in cryptocurrencies such as Bitcoin, it may provide some support to the cryptocurrency market and drive prices up.