Trump-affiliated organization files for launch of exchange-traded funds (ETFs) based on Bitcoin and Ethereum.
Fresh Take:
Hold onto your crypto wallets, folks! Trump Media, the buzz-worthy firm behind Truth Social and Truth+, is taking a leap into the crypto universe by filing with the Securities and Exchange Commission (SEC) to launch a combined Exchange-Traded Fund (ETF) focusing on Bitcoin (BTC) and Ethereum (ETH).
If thumb's up comes their way, this groundbreaking ETF will see 75% of its assets invested in BTC, while the remaining 25% will be staked on ETH. Sounds like a yuge bet on the top two cryptos by market cap!
Speaking of big players, Crypto.com is stepping up to the plate as the exclusive BTC and ETH custodian, doubling as the prime execution agent and, you guessed it, staking and liquidity provider. Talk about a powerhouse collaboration!
You may be wondering, who's sponsoring this crypto-centric ETF? That would be Yorkville America Digital, with the intention of listing on the NYSE Arca if the SEC gives its stamp of approval.
The proposed ETF will steer clear of being labeled a "security," ensuring that no offers can be made before the registration statement is pool-party ready.
With the SEC under new, friendlier leadership thanks to the Trump administration, the chances of seeing the green light are looking pretty peachy.
Embracing the crypto craze, our current POTUS has been spearheading a series of pro-digital asset initiatives. Trump Media Group's foray into Bitcoin and Ethereum ETFs is just another feather in the pro-crypto cap.
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Stay tuned for more updates on this developing story. In the meantime, catch up on the latest crypto trends, and fellow crypto enthusiasts, let's keep those portfolio gains rocketing upward!
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- Trump Media Group's decision to launch a Bitcoin and Ethereum ETF marks a significant move in embracing the crypto revolution, joining the ranks of other crypto platforms like Binance and Bybit.
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- The proposed Bitcoin and Ethereum ETF, if approved, promises to be a game-changer in the world of finance and technology, signaling a new era for digital asset investments.
- With the SEC under new leadership, the chances of the Bitcoin and Ethereum ETF receiving the green light are looking promising, adding yet another layer to the ongoing crypto craze initiated by Donald Trump.