$BTC is currently priced around $105,000, down 0.24% in the last 24 hours, as the market reacts to a new and surprising development: a Bitcoin ETF linked to Donald Trump.
On June 3, the NYSE Arca filed a request with the SEC to list a new spot Bitcoin ETF called the Truth Social Bitcoin ETF. It's backed by Yorkville America Digital, a company with ties to Trump.
This ETF is different from others because it uses Trump's brand and political identity, which could attract his supporters and everyday investors who like him.
The ETF is designed to follow Bitcoin's price but lets people invest without having to own or store Bitcoin themselves. It’s similar to other ETFs already approved, like those from BlackRock and Grayscale.
However, the market isn't too excited yet. Bitcoin's price hasn't jumped, showing that people are still cautious due to regulation concerns and general investor fatigue—even though many still believe in Bitcoin’s long-term growth.
Key Points:
ETF filing made on NYSE Arca, SEC still reviewing
Trump branding could attract politically motivated investors
Bitcoin price remains under $106K despite the news