The New York Stock Exchange (NYSE) has officially applied to list a Bitcoin (BTC) and Ethereum (ETH) focused ETF prepared by U.S. President Donald Trump's media company.
Trump Media & Technology Group continues to expand its strategic steps towards the cryptocurrency markets. Eight days ago, the company published a prospectus for the Truth Social Bitcoin and Ethereum ETF, which tracks the prices of Bitcoin and Ethereum. This ETF will contain 75% Bitcoin and 25% Ethereum.
According to the official application made by NYSE to the SEC, all necessary measures against market manipulation and fraud are being taken for the ETF listing. The application process involves ensuring full compliance with the criteria set by the SEC during the ETF's initial listing phase and thereafter.
Trump's Crypto Offensive is Growing
Crypto.com stands out as the custodian and liquidity support provider for the ETF, while the fund's approval and listing procedures will be thoroughly evaluated by the SEC.
The Trump administration, which has recently exhibited a positive stance towards cryptocurrencies, has attracted attention by appointing crypto-friendly figures to senior positions at the SEC. The increasing activity of Trump Media in the crypto sector has also caught the radar of investors.
Previously, Trump Media applied alone for a Bitcoin-focused Truth Social Bitcoin ETF in partnership with Yorkville America, and now it enriches investment options with a new ETF product that includes BTC and ETH.
The ETF products offered by Trump Media aim to facilitate traditional investors' access to cryptocurrency markets.