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yesterday

Trump Media Files for Truth Social Bitcoin and Ethereum ETF

Pending SEC approval, the ETF would allocate three-quarters of assets to Bitcoin; Crypto.com would serve as custodian and liquidity provider.

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Overview

  • The Truth Social Bitcoin and Ethereum ETF would split its portfolio with 75% invested in Bitcoin and the remaining 25% in Ether.
  • Crypto.com is lined up to handle custody and provide liquidity for the proposed fund.
  • This dual-asset filing follows an earlier application this month for a standalone Bitcoin ETF from Trump Media.
  • Trump Media has announced plans to borrow funds to purchase Bitcoin and intends to invest in the ETFs it is seeking to launch.
  • Ethics experts have raised conflict-of-interest concerns as Trump’s crypto ventures align with his policy authority and coincide with strong investor demand for Bitcoin and Ether funds.