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U.S. President Donald Trump’s media institution is accelerating its crypto play.
The New York Stock Exchange filed for a regularisation alteration connected Tuesday that would alteration it to database the Truth Social Bitcoin and Ethereum ETF, a dual-asset money proposed conscionable past week by Trump Media and Technology Group.
If approved, the ETF would clasp bitcoin BTC and ether ETH successful a 3:1 ratio and beryllium custodied and executed by Crypto.com, which besides serves arsenic the fund’s liquidity provider.
The filing, made nether the SEC’s 19b-4 process, marks a cardinal procedural measurement toward nationalist trading but doesn’t warrant approval.
It comes little than a period aft Trump Media said it would raise $2.4 billion to physique its ain BTC treasury, though determination person been nary announced purchases truthful far.
Beyond the Truth Social ETF filings, Trump Media and Yorkville are readying a afloat suite of politically branded crypto products, including the America First Bitcoin Fund, the America First Blockchain Leaders Fund, and the America First Stablecoin Income Fund.
Only the Truth-branded ETFs person been formally filed with the SEC truthful far.
Read more: Donald Trump's Truth Social Files for Dual Bitcoin and Ether ETF
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