The U.S. Securities and Exchange Commission (SEC) is reviewing an amended filing from Trump Media & Technology Group to launch a Bitcoin ETF. The ETF is set to directly hold Bitcoin.
Trump Media's Bitcoin ETF Filing
Trump Media & Technology Group (DJT) has filed an amended registration statement for its **Truth Social Bitcoin ETF**, trading under the ticker **B.T.**. The fund aims to provide investors direct exposure to Bitcoin without the need to manage private keys or wallets.
Role of Crypto.com as Custodian
The new filing highlights **Crypto.com** as the ETF’s exclusive custodian. This means the crypto exchange will be responsible for the security of the Bitcoin assets backing the ETF. The selection of Crypto.com indicates that Trump Media is leveraging established crypto infrastructure to boost investor confidence.
Awaiting Approval from NYSE Arca
If approved by the SEC, the **Truth Social Bitcoin ETF** will trade on **NYSE Arca**, a well-known platform for listed exchange-traded products. The fund’s sponsor, Yorkville America Digital, will continue to oversee the fund’s operations and compliance. While this filing represents progress, the SEC has historically approached spot Bitcoin ETFs cautiously, emphasizing risks of market manipulation and investor protection.
Trump Media's Bitcoin ETF filing reflects the company's aspirations to enter the growing market of cryptocurrency ETFs, though the SEC review process remains stringent and prolonged.
