Trump Media Files for Bitcoin and Ethereum ETFs with NYSE Arca

Trump Media and Technology Group Corp (TMTG) has filed for its second crypto exchange-traded fund (ETF), targeting Bitcoin and Ethereum. This filing to the SEC follows a previous prospectus submission just eight days prior. If approved, the ETF will trade on NYSE Arca.

Key Points

TMTG aims to raise $2.4 billion to become a major corporate holder of Bitcoin.
The company seeks to offer regulated investment vehicles linked to blockchain technologies.
Investor interest may depend on competitive fee structures compared to existing crypto ETFs.

Currently, Bitcoin is priced at $106,000, having recovered 3% from a recent low of $98,000 amid geopolitical tensions. Market analyst Mr. Wall Street predicts Bitcoin could reach between $180,000 and $250,000 this year.

Over $20 billion shifted from gold to Bitcoin in the last two weeks, indicating institutional confidence in Bitcoin as a store of value.
Liquidity in over-the-counter desks is decreasing, which may lead to price increases.
A recent hash ribbon indicator suggests potential for significant upward movement following a correction.

Mr. Wall Street believes the recent market dip created peak fear, historically associated with future price breakouts.