Trump Media Files Bitcoin ETF Proposal, Will Compete with BlackRock
Trump Media & Technology Group (TMTG) has submitted a Bitcoin (BTC) Exchange-Traded Fund (ETF) proposal to regulators under the name Truth Social Bitcoin. This move will provide an investment offering in the hotly debated crypto asset, according to Bloomberg.
The document was submitted by NYSE Group in collaboration with Yorkville America Digital on the proposal, Tuesday (03/06). If approved, the company owned by US President Donald Trump will compete with Bitcoin ETF giant, BlackRock.
It is known that this initiative has received both support and criticism regarding Trump's ethics in profiting from the crypto business. Experts assess that there is a conflict of interest, especially since the crypto project World Liberty Financial (WLFI) has also launched a stablecoin USD1.
For your information, Trump Media has successfully secured funding of US$2.44 billion or equivalent to Rp36 trillion from approximately 50 institutional investors for massive investments in Bitcoin.
