NYSE Group filed paperwork to list a 'Truth Social Bitcoin ETF,' linked to Trump Media, majority-owned by Donald Trump, partnered with Yorkville Advisors.
The ETF will be sponsored by Yorkville America Digital and custodied by Foris DAX Trust Company affiliated with Crypto.com, actively buying and selling Bitcoin to track its price.
Trump Media & Technology Group Corp., associated with Donald Trump, is moving closer to introducing the ETF, expanding its ventures into the cryptocurrency market.
The potential Trump-affiliated ETF faces ethical scrutiny due to intertwining financial interests and policy influence, drawing criticism from ethics experts amid concerns of financial benefits for Trump.