This post was originally published on Coinspeaker
Key NotesTrump Media has filed for a Bitcoin ETF, expanding its cryptocurrency ventures.The proposed Truth Social Bitcoin ETF aims to attract politically aligned investors.Critics raise ethical concerns over President Trump’s direct involvement in crypto projects.
On June 3, NYSE Arca submitted a Form 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) to list the Truth Social Bitcoin ETF. The fund is associated with President Donald Trump’s media company, Trump Media & Technology Group (TMTG).
This proposed ETF aims to track the spot price of Bitcoin, providing investors with exposure to the cryptocurrency without the need to hold it directly.
Truth Media’s Expansion into Cryptocurrency
The ETF is sponsored by Yorkville America Digital, a partner of TMTG, and, if approved, will be listed on NYSE Arca. Foris DAX Trust Company, affiliated with Crypto.com, is designated as the custodian for the fund’s digital assets.
This move is part of a broader strategy by TMTG to expand into the cryptocurrency sector. Earlier this year, the company announced plans to invest $2.5 billion in Bitcoin and other digital assets. Additionally, TMTG has partnered with Crypto.com to develop a suite of digital asset products under the Truth.Fi brand.
Trump’s Crypto Empire: Short
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