#ETF :🪷 Trump Media plans holding Bitcoin ( BTC ), Ethereum ( ETH )🪷
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The US Securities and Exchange Commission received a filing from Trump Media, the US President’s affiliated business that operates Truth Social, Truth+, and TruthFi, plans to create a combined exchange-traded fund (ETF) that would track the performance of the two largest cryptocurrencies by market capitalization.
The financial vehicle will hold Bitcoin and Ethereum, with 75% of its AUM allocated to the leading digital asset and 25% to the largest altcoin.
The news release issued by the Trump Media Group today reaffirms earlier rumors that Crypto.com will be the sole custodian of Bitcoin and Ethereum for the ETF. It will also serve as a “prime execution agent, as well as a staking and liquidity provider.”
The ETF sponsored by Yorkville America Digital will be listed on NYSE Arca, pending authorization by the US SEC.
According to the announcement, the proposed ETF is not a “security” because shares “may not be sold, nor may offers to buy be accepted, before the registration statement is made.”
President Trump has adopted a very different stance on the cryptocurrency sector, and one of the businesses associated with him has filed to introduce a joint Bitcoin and Ethereum ETF, marking another step in the direction of the growing pro-digital asset movements.
