Trump Media and Technology Group (DJT) has filed to list a Truth Social Bitcoin and Ethereum exchange traded fund (ETF) on Monday.
The ETF will hold bitcoin BTC and ether ETH directly with 75% of capital being allocated to bitcoin and the remaining 25% to ether, according to a filing with the Securities and Exchange Commission (SEC).
Singapore-based exchange Crypto.com will act as the ETF’s custodian as well as taking and liquidity provider. Trump Media and Technology Group signaled its intent of issuing an ETF earlier this month as it made a standalone registration for a spot bitcoin ETF.
📖 Related Reading
- 📰 AAVE Breaks Key Resistance as DeFi Sector Heats Up
- 📰 Asia Morning Briefing: Risk of Escalating Israel-Iran Conflict Keeps BTC Around 105K Says QCP
The inclusion of ether is in-keeping with the Trump family’s crypto activity; World Liberty Financial, the DeFi project backed by the family, holds 96% of it assets on the Ethereum blockchain, Arkham data shows.
If approved the fund would join a long list of crypto ETFs including those managed by BlackRock, Grayscale, Fidelity and Franklin Templeton. Bitcoin ETFs alone have $131 billion in assets under management.
** Read more:Trump’s Truth Social Takes Next Step in Launching Spot Bitcoin ETF**
🔗 You Might Also Be Interested In
AAVE Breaks Key Resistance as DeFi Sector Heats Up
Asia Morning Briefing: Risk of Escalating Israel-Iran Conflict Keeps BTC Around 105K Says QCP
The End of Bitcoin Maximalism
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!