Trump Media and Technology Group Corp. Files for ETF
In a recent move, Trump Media and Technology Group Corp. (stock ticker: DJT), which has ties to former President Donald Trump, has revealed that it has filed a preliminary registration statement for its anticipated Truth Social Bitcoin and Ethereum Exchange-Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
ETF Structure and Management
This ETF is designed to offer direct exposure to the cryptocurrency market by investing 75% of its holdings in Bitcoin and 25% in Ethereum. Investors can expect shares in this fund to be issued, mirroring the price movements of these two popular digital currencies.
To manage the assets of this ETF, Crypto.com will take on the role of the exclusive custodian, along with being the primary agent responsible for the fund’s operations. Furthermore, the platform will provide essential services such as staking and liquidity to facilitate trading activities.
Approval and Launch
The successful launch of the Truth Social Bitcoin and Ethereum ETF hinges on the SEC’s approval of its registration statement and the filing of the corresponding 19b-4 form.
Upon receiving the green light, shares of this newly proposed ETF will be resided on the New York Stock Exchange Arca. Additionally, Yorkville America Digital will be instrumental as the sponsor supporting the fund’s operations and growth.
