The social platform of truth of President Donald Trump makes an important step towards the introduction of his own Bitcoin (ETF) negotiated funds. This decision is intended to compete with the largest asset managers in the world, who have increasingly adopted cryptocurrencies in the past year.
Trump’s social social files for Bitcoin Etf
Tuesday, Nyse Arca, the all -electronic division of the New York Stock Exchange (NYSE) responsible for most Trading of funds negotiated on the stock marketSubmitted a 19B-4 form to list a Bitcoin fund associated with the Trump media company. This file is a crucial prerequisite for regulatory approval, allowing the fund to launch and discuss an American scholarship.
Appointed the ETF of Truth Social Bitcoin, this fund is designed to reflect the price movements of the main cryptocurrency of the market, offering investors a more accessible avenue to obtain an exhibition at the cryptocurrency without needing to keep the asset directly.
This initiative comes on a partnership announced in March between Trump Media and Crypto.com, aimed at developing a range of digital asset products that should be published later this year, subject to regulatory approval.
$ 2.5 billion Bitcoin Treasury and Next ETF
According to a CNBC report On Tuesday, the upcoming offers should include a mixture of cryptocurrencies, such as the CRONOS (CRO) token of Bitcoin and Crypto.com, alongside traditional titles.
These products will be marked under Trump Media and made available to a global audience via the main brokerage platforms and the Crypto.com application, which serves more than 140 million users worldwide.
Since the launch of Spot Bitcoin ETF in January 2024, the market has experienced remarkable growth, inflating more than $ 130 billion in total assets. Ishares Bitcoin Trust of Blackrock (Ibit) is currently dominating the walkWith nearly $ 69 billion in assets, making it the largest digital active manager in the world.
These investment products significantly contributed to the record reached by BTC last week, approaching the $ 112,000 mark. In the past two weeks, the FNB Ibit of Blackrock, the FBTC of Fidelity and the Mini Trust ETF of Grayscale have received nearly a billion dollars in entries, according to Farside data.
Trump is the majority owner of the parent company of Truth Social, Trump Media & Technology Group, who has made several strategic measures aligned in the cryptocurrency sector in recent months. These movements include brand digital asset products and the announcement of a Bitcoin of 2.5 billion dollars Treasury plan Last week in Las Vegas.
According to the CNBC report, if the FNB Truth Social Bitcoin is approved, it would represent one of the “most politically linked entries” on the market for negotiated Bitcoin funds already.
During writing, the Trump Memecoin is negotiated at $ 11.21, down more than 84% compared to its $ 73 summit, reached one day after its launch.
Dall-e star image, tradingView.com graphic
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