🏦 The Securities and Exchange Commission (SEC) has officially accepted Trump media company Truth Social’s application to launch a combined Bitcoin and Ethereum ETF. The regulator now has a set deadline to make a decision on this unusual fund.
🤗 The SEC has accepted Truth Social’s application.
💰 The proposed ETF would give investors exposure to the two largest cryptocurrencies through shares traded on the NYSE Arca. The asset allocation would be 75% Bitcoin and 25% Ethereum, reflecting the current market capitalization of these digital assets. Foris DAX Trust Company, better known as Crypto.com, will act as the custodian, and Yorkville America Digital, an asset management firm, will sponsor the fund. This structure provides professional custody of cryptocurrencies and management of the fund.
