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bitcoin
Bitcoin (BITCOIN)
$107,446 1.70%
ethereum
Ethereum (ETHEREUM)
$2,418 -0.59%
binancecoin
BNB (BINANCECOIN)
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solana
Solana (SOLANA)
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ripple
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pepe
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bonk
Bonk (BONK)
$0.000014 -1.48%
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NYSE Arca Files Rule Change for Truth Social Bitcoin and Ethereum ETF

Highlights:

  • Truth Social Bitcoin and Ethereum ETF holds 75% in Bitcoin and 25% in Ethereum.
  • The ETF is handled by Crypto.com in terms of custody, execution, and liquidity.
  • NYSE Arca’s rule change filing advances the ETF listing process with the SEC.

The New York Stock Exchange has filed a ruling change to list the Truth Social Bitcoin and Ethereum ETF. It is an ETF offered by Trump Media & Technology Group and would track Bitcoin and Ethereum. The filing will be approved through the SEC 19b-4 process, which requires the listing of exchange-traded products.

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Provided with approval, this ETF will be weighted 75% in Bitcoin and 25% in Ethereum. In addition, it would also be listed on NYSE Arca, the digital-oriented division of the exchange. One of the biggest crypto platforms, Crypto.com, will hold custody, trade, and offer liquidity services.

This proposal comes after Trump Media applied to have a standalone Bitcoin ETF before. The same application is still being reviewed by the SEC and has the same sponsor and custodian as the dual-asset version. Consequently, this dual-crypto approach broadens the influence of Trump Media to digital asset investment.

Truth Social Bitcoin and Ethereum ETF Gains Momentum

Truth Social Bitcoin and Ethereum ETF is designed to offer investors a regulated structure to make it simpler to approach crypto. Additionally, it is set up as a trust based on a commodity. Crypto will be kept in cold wallets that are controlled by the Foris DAX Trust Company, which is an affiliate of Crypto.com.

Crypto.com will also engage trading support and liquidity to allow the ETF to be efficient through the market cycle. They would provide investors with exposure to Bitcoin and Ethereum via the spot market under a single ticker without having to own the crypto directly.

The filing comes only eight days after Trump Media filed its prospectus with Yorkville America. Collectively, the firms are moving to establish a wider crypto product strategy, starting with this ETF. The SEC examination can last as long as 240 days, but a preliminary reply normally comes within 45 days.

The 19b-4 form outlines the adherence to the NYSE listing standards. In addition, it confirms the steps that are to be taken to avoid fraud and maintain an orderly trading. These are crucial points since the SEC needs to determine the preparedness of the ETF for the market.

Crypto Policy Shift Boosts ETF Prospects

Political momentum appears to be accelerating the ETF’s path. New shifts in the leadership of the SEC have introduced individuals who are pro-regulation in terms of crypto. This transition has the potential to transform crypto investment vehicle evaluation and authorization. President Trump, now a public advocate for digital assets, has backed their use in financial innovation. Moreover, the presence of his firm is an indicator of his intention to transform the U.S. investment landscape through blockchain products.

Yorkville America and Crypto.com, in collaboration with Trump Media, are intending to raise more funds. These include the America First Bitcoin Fund and Blockchain Leaders Fund. However, two Truth-branded ETFs are the only ones that have been filed officially to date. At the end of May, Trump Media also announced a $2.4 billion capital raise to construct a Bitcoin treasury.

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