NYSE Arca, the digital arm of the New York Stock Exchange, has filed to list a new cryptocurrency exchange-traded fund (ETF) from Trump Media & Technology Group.
Details of the ETF Filing
The filing, dated Tuesday and submitted to the U.S. Securities and Exchange Commission (SEC), concerns an ETF that will invest 75% of its assets in Bitcoin and 25% in Ethereum. This comes just eight days after the firm behind SPAC filed its prospectus.
Partnership with Crypto.com
Trump Media and Yorkville America have partnered with Crypto.com to manage the ETF's infrastructure. Crypto.com will provide digital asset custody, execute cryptocurrency transactions, and ensure liquidity for smooth fund operations.
SEC's Shift on Cryptocurrency Stance
Recent information indicates that the SEC's position on digital currencies appears changeable. The agency, previously cautious about digital assets, seems to be taking a more positive view towards the development of crypto markets. President Donald Trump has also shifted his stance on cryptocurrencies, actively supporting them in public statements.
If approved, this filing would represent a significant step for Trump Media, allowing the company to position itself seriously in the crypto finance space and offer new investment solutions.
