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Trump Media Files to Launch Bitcoin and Ethereum ETF
- Trump Media & Technology Group has filed with the SEC to launch the Truth Social Bitcoin and Ethereum ETF, B.T.
- The ETF will directly hold 75% Bitcoin and 25% Ether, with shares expected to trade on NYSE Arca once approved.
- Crypto.com is selected as the custodian, prime execution agent, staking, and liquidity provider for the ETF, with Yorkville America Digital, LLC as the sponsor.
- The launch is pending SEC approval of a Form 19b-4 filing, with the fund structured as a Nevada business trust.
- Shares will be issued and redeemed in blocks of 10,000 by authorized participants, with potential for in-kind transactions in the future, pending additional regulatory approval.
- The ETF is not registered under the Investment Company Act of 1940, exempt from traditional ETF rules as it holds Bitcoin and Ether directly.
- Trump Media's move reflects expansion into digital assets beyond social media and streaming, positioning itself in the financial services sector.
- If approved, the Truth Social ETF would offer investors a regulated route to invest in both Bitcoin and Ether through one fund.
- The filing indicates Trump Media's strategy to compete in the digital asset space by offering a direct, regulated pathway for investors.
- The ETF launch is pending approval, aiming to give investors exposure to Bitcoin and Ethereum through a single fund.
- The move signifies Trump Media's intention to establish a presence in the financial services sector amidst growing interest in digital assets.
- Trump Media Files to Launch Bitcoin and Ethereum ETF.
- The Shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
- The fund is structured as a Nevada business trust with potential for in-kind transactions in the future, pending regulatory approval.
- Shares will be issued and redeemed in blocks of 10,000 by authorized participants, with cash used for creation and redemption.
- The ETF may offer in-kind transactions in the future, pending additional regulatory approval.
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