Arincen - In a notable move that could change the game on Wall Street, Trump Media & Technology Group, which operates the Truth Social platform, announced that it has officially applied to the U.S. Securities and Exchange Commission (SEC) to list a dual digital asset Exchange-Traded Fund (ETF) on the NYSE Arca.
The new fund, which will trade under the symbol B.T., aims to provide direct exposure to the two largest digital assets in the world: Bitcoin (75%) and Ethereum (25%). This comes as part of the Form 19b-4 submitted on June 24, which is a critical regulatory step towards the official launch.
The fund is managed as a non-active commodity investment fund, sponsored by Yorkville America Digital, while Foris DAX Trust Company, a subsidiary of Crypto.com, is responsible for custodying the digital assets in cold storage wallets, in addition to providing trading, staking, and liquidity services.
This product provides a new investment tool that allows individual and institutional investors to trade crypto assets easily through traditional brokerage platforms, without the need to deal directly with cryptocurrency wallets or specialized exchanges.
This development comes less than ten days after Trump Media submitted the Form S-1, related to public disclosures and the structure of the fund, making the 19b-4 form a necessary supplementary step to obtain the green light from regulatory authorities.
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