SEC has initiated a formal review of a new spot-crypto fund, demonstrating growing acceptance of directly held crypto products.
Trump Media's Truth Social unit seeks to list an ETF on NYSE Arca comprising 75% Bitcoin and 25% Ether, with custody by Crypto.com's Foris DAX Trust Company.
Wall Street giants like BlackRock and Fidelity have filed Bitcoin and Ether ETF applications; SEC is considering an 'automated' listing framework for spot-crypto ETFs to expedite reviews.
Fidelity's spot-Solana ETF faces delays, while the future of spot-crypto ETFs, including those backed by Bitcoin and Ether, depends on SEC decisions and market dynamics.