Trust Fund has been played on NTS in shows including Yesterday's News, featured first on 13 December 2015. Songs played include Football, Jumper and Cut Me Out.

Trust Fund is a musical project founded and led by Ellis Jones while living in Bristol, United Kingdom. Both on recordings and live, the band also featured a rotating lineup of musicians to fill out the sound. They released four full-length albums between 2015 and 2018, the final of which roughly coincided with the decision to disband.

The band self-released an EP titled I've Been Ages, followed by a second, Don't Let Them Begin, and a split EP with Joanna Gruesome, the latter two issued by Reeks of Effort. In early 2015, they signed to Turnstile Records for the release of their first full-length album, No One's Coming for Us.

Their next album, Seems Unfair, followed shortly after on the same label in the autumn of 2015.

After a relocation to Leeds, a third album, We Have Always Lived in the Harolds, was released in June 2016. Reverting to home recording, it was also released without a record label. The title is a reference to Shirley Jackson’s 1962 novel 'We Have Always Lived in the Castle', substituting in a group of streets in Leeds collectively known as the Harolds, where Jones lived.

In July 2018, Trust Fund released their fourth and final full-length album, Bringing the Backline. During their period of activity, Trust Fund toured with Los Campesinos!, Speedy Ortiz and Mitski.

Following Trust Fund's break-up, Jones published a book — 'DIY Music And The Politics Of Social Media' — and became a professor. In March 2022, Jones released a one-off track called 'Can’t Take It' under the Trust Fund name, followed by two more singles in late 2022, 'Capital' and 'Late Nite Skate'.