President Trump’s February 2026 directive launched the rolling declassification of UAP records under the PURSUE program, producing the first public tranche of 161 files on May 8 followed by a second batch of 64 files on May 22. These releases include videos, photos, and firsthand accounts spanning decades, with additional tranches scheduled every few weeks as agencies review millions of documents. Trader sentiment reflects the administration’s stated commitment to ongoing transparency, tempered by the lengthy review process and historical patterns of incremental government disclosures on the topic. Key near-term catalysts include the timing of the next scheduled release and any congressional pressure for faster or more comprehensive drops.