Trump Media Submits Registration for Bitcoin-Ethereum ETF with SEC
Trump Media & Technology Group has submitted a registration to the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) that will hold Bitcoin and Ethereum. Key details include:
- Proposed allocation: 75% Bitcoin, 25% Ethereum
- Crypto.com appointed as custodian and provider of staking and liquidity services
- Launch dependent on SEC approval of registration and rule change application
- Intended listing on NYSE Arca
This ETF is part of a strategy to integrate cryptocurrency into Trump Media's business model, following an announcement to raise $2.5 billion for a Bitcoin treasury. The initiative has raised concerns over potential conflicts of interest due to President Trump's promotion of cryptocurrency alongside his company's financial activities. The SEC's decision could influence the relationship between politics and cryptocurrency investment in the U.S.