Trump's social media company plans to launch a new crypto exchange-traded fund (ETF) tracking five cryptocurrencies.
The proposed 'Crypto Blue Chip ETF' will hold 70% Bitcoin, 15% Ethereum, and smaller percentages of Solana, XRP, and Crypto.com's digital asset.
The regulatory environment is becoming more favorable for crypto products, with the SEC dropping or pausing enforcement actions against crypto companies.
Trump's stance on Bitcoin has shifted from skepticism to support, with his administration aiming to position the US as a global leader in cryptocurrency despite criticisms and concerns.