To introduce a spot Bitcoin and Ethereum ETF, Truth Social has applied to the U.S. Securities and Exchange Commission (SEC). If approved, the fund would be the first ETF of its kind directly linked to a former US president’s media conglomerate.
The proposed Truth Social Bitcoin and Ethereum ETF will allocate 75% of its assets to Bitcoin and 25% to Ether. NYSE Arca will list the ETF and hold both of these cryptocurrencies. This arrangement provides investors with a straightforward and controlled method of increasing their exposure, eliminating the need to manage digital wallets or private keys by regularly monitoring the market performance of both coins.
Crypto.com serves as the ETF’s exclusive custodian and prime execution agent, managing trade execution and ensuring the security of the underlying assets. Additionally, in a first for a significant U.S. ETF application, Crypto.com will offer staking and liquidity services.
Trump Media Keeps Growing in Crypto
The ETF registration is merely the most recent in Trump Media’s series of crypto-forward actions, through its Truth. Fi platform. The corporation said earlier this year that it would invest $250 million in various cryptocurrencies and digital projects. President Trump’s personal financial declarations reveal substantial revenue from cryptocurrency-related activities. This suggests a broader effort to align his corporate interests with the rapidly growing digital asset market.
The Trump administration and Congress are signaling their growing support for the cryptocurrency industry with this strong effort. Additionally, new legislation is anticipated to legitimize digital assets further and promote institutional engagement.
The registration statement and related documents will now be examined by the SEC, a procedure that may take many months. In addition to being a noteworthy achievement for Trump Media, the Truth Social Bitcoin and Ethereum ETF would solidify the place of digital assets in mainstream finance.
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