Trump Media & Technology Group, the company behind the Truth Social platform, has filed a request with the U.S. Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF) called "Crypto Blue Chip ETF." This ETF aims to invest in five major cryptocurrencies:
Bitcoin (70%)
Ethereum (15%)
Solana (8%)
Ripple (5%)
The proposal seeks to simplify cryptocurrency investment for the general public, without the need to acquire digital assets directly. This initiative reflects a shift in former President Donald Trump's stance towards the crypto industry, promoting a more friendly regulatory environment and encouraging institutional adoption of digital assets.
The SEC's approval of this ETF could facilitate traditional investors' access to the cryptocurrency market, potentially increasing the demand and price of the underlying assets.
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