In short
- Trump Media has submitted to the SEC for approval to launch a double bitcoin and Ethereum ETF under the social banner of the truth.
- The company works together with Yorkville America Digital and Crypto.com on its ETF plans, including an earlier Bitcoin fund application.
- Trump Media recently collected $ 2.4 billion with plans to set up a Bitcoin Treasury.
Trump Media and Technology Group, via partner company Yorkville America Digital, served at the SEC to launch a joint Bitcoin and Ethereum ETF, according to a On Monday.
The submission proposes a interest rate of 75% Bitcoin and 25% EthereumWith Crypto.com that act as the preservator, the implementing agent and the liquidity provider.
“The launch of the Truth Social Bitcoin and Ethereum ETF is awaiting the effectiveness of the registration declaration and approval of a Form 19B-4 indoor at the SEC. The shares are mentioned on NYSE Arca,” reads a statement from Trump Media.
The submission is not the first connection for Trump Media and Yorkville, that Previously sponsored the submission of the entity For a self -contained bitcoin ETF called the Truth Social Bitcoin ETF.
Just like that archiving, the fund was registered as a business confidence in Nevada instead of legal confidence in Delaware, such as many ETFs.
In addition to those two files, the pair and crypto.com want to offer a series of “America First” products, such as the America First Bitcoin Fund (AFFF), America First Blockchain Leaders Fund (AFBLF) and the America First Stablecoin Income Fund. To date, however, only the Truth has Social Bitcoin ETF and the Truth Social Bitcoin and Ethereum ETF SEC archives.
The newest submission promotes the growing entanglement of the Trump Media and Technology Group with crypto. At the end of May, it $ 2.4 billion collected To start his own Bitcoin Treasury, although the company does not yet have to announce BTC acquisitions.
Before that, President Trump’s company – which manages the social media site Truth Social, a streaming platform called Truth+, and a brand for financial technologically called Truth.fi– stated that it can launch own wallet and token.
Moreover, the Trump family has become connected to various crypto projects, because the president’s administration releases the restrictions on the industry.
Famous, the President launched one Official meme coin On the Solana blockchain in January, just a few days before his inauguration. Before that, the launch of Ethereum was Defi Protocol World Liberty Financial, who has since launched own management And stabile.
The sons of the president, in particular Eric and Donald JR, have also had a heavy hand in the crypto industry. The couple supported Bitcoin -Mijnbouwbedrijf American Bitcoin And everyone has connections with Trump Media and World Liberty Financial, including crypto ventures.
A new disclosure shows that the president Made more than $ 57 million from World Liberty FinancialA comment that the Criticism from bipping legislative About his crypto transactions.
Trump Media and Technology Group (DJT) shares fell to $ 19.18 on the day of almost 2%.
Published by Andrew Hayward
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