President Trump’s Truth Social Target is a Snippet of Bitcoin ETF Market
President Donald Trump’s truth-fact social platform is taking an important step towards introducing his own Bitcoin exchange-traded fund (ETF). The move is designed to compete with the world’s largest asset managers, who have increasingly adopted cryptocurrencies over the past year.
Trump’s Truth Social Files Bitcoin ETF
On Tuesday, NYSE ARCA, the full electronics division of the New York State Stock Exchange (NYSE), was responsible for the majority Exchange-traded fund tradingForm 19b-4 was submitted to list Bitcoin funds related to Trump Media. The document is a crucial prerequisite for regulatory approval, enabling the fund to be initiated and traded on U.S. exchanges.
The fund aims to reflect price movements in market-leading cryptocurrencies, providing investors with a more accessible pathway. Cryptocurrency No need to hold assets directly.
The initiative follows a close second with a partnership announced between Trump Media and Crypto.com, aiming to develop a range of digital asset products planned to be released later this year, depending on regulatory approvals.
$2.5 billion Bitcoin Treasury and upcoming ETF
According to CNBC Report On Tuesday, upcoming products are expected to include cryptocurrencies such as Bitcoin and Crypto.com’s local Cronos (CRO) tokens, as well as traditional securities.
These products will be branded under Trump Media and are available to global audiences through major brokerage platforms and the Crypto.com app, which serves more than 140 million users worldwide.
Since the launch of Bitcoin ETFs in January 2024, the market has experienced significant growth, with total assets expanding by more than US$130 billion. BlackRock’s iShares Bitcoin Trust (IBIT) currently dominates marketowning nearly $69 billion in assets, making it the world’s largest digital asset manager.
These investment products contributed to the record-breaking heights achieved on BTC last week, close to $112,000. According to the data from Farside data.
Trump is the majority owner of Truth Social’s Trump Media & Technology Group, which has made several strategic moves in recent months that are aligned with the cryptocurrency sector. These moves include trademark digital asset products and announcement of $2.5 billion in Bitcoin Financial Plan Last week in Las Vegas.
According to a report by CNBC, if approved by the Truth Society Bitcoin ETF, it will represent one of the “politically most connected entries” in the already successful Bitcoin exchange fund market.
At the time of writing, Trump’s members traded at $11.21, down more than 84% from their all-time high of $73, a day after their launch.
Featured images from dall-e, charts from tradingview.com
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