Trump Media and Technology Group has filed for a Bitcoin and Ethereum ETF, marking a strategic move in cryptocurrency.
ETF Filing by Trump Media
The presidential company Trump Media has filed for an ETF that will include 75% Bitcoin and 25% Ethereum. The filing is under review by the SEC, with possible listing on NYSE Arca.
Partnership with Crypto.com
An important partner in this project is Crypto.com, which will provide asset custody and liquidity. Trump Media has raised $2.5 billion from investors aimed at acquiring cryptocurrencies.
Market Impact
The announcement of the filing has already led to a 1.7% increase in DJT shares during pre-market trading, although there is no significant impact on Bitcoin or Ethereum liquidity detected. SEC approval will be a key stage potentially influencing market confidence.
Trump Media's ETF filing for Bitcoin and Ethereum emphasizes the growing interest in cryptocurrencies as institutional investment tools. The wait for SEC approval might be a crucial moment for the project's further development.
