President Donald Trump’s social platform takes an important step towards bringing his Bitcoin exchange fund (ETF). This step aims to compete with the largest asset managers in the world, who have increasingly adopted coded currencies over the past year.
Trump’s social files for Bitcoin ETF
On Tuesday, New York Erka, the Kani section of the New York Stock Exchange (NYSE) responsible for most Trading boxes circulated on the stock exchangeIntroduce the 19B-4 model to insert the Bitcoin Fund linked to Trump Media Company. This deposit is a basic prerequisite for organizational approval, which enables the fund to launch and trade the American Stock Exchange.
This box is designed as Truth Bitcoin ETF, and is designed to reflect price movements in the leading cryptocurrency in the market, providing a more easy way for investors to be exposed to Coded Without the need for the original contract directly.
This initiative comes in the aftermath of a partnership announced in March between Trump Media and Crypto.com, which aims to develop a set of digital asset products prescribed for the release later this year, and depends on organizational approval.
2.5 billion dollars in the next Bitcoin and ETF treasury
According to CNBC a report On Tuesday, the upcoming offers are expected to include a mixture of cryptocurrencies, such as the distinctive symbol of Cronos (CRO) from Bitcoin and Crypto.com, along with traditional securities.
These products will be described under Trump Media and available to a global audience through major brokerage platforms and Crypto.com, which serves more than 140 million users worldwide.
Since the launch of Spot Bitcoin Etfs in January 2024, the market has witnessed a remarkable growth, swelling to more than $ 130 billion in total assets. Blackrock’s Ishares Bitcoin Trust (Ibit) is currently dominating marketIt includes approximately $ 69 billion in assets, making it the largest digital asset manager in the world.
These investment products contributed significantly to the high record reached by BTC last week, near the mark of $ 112,000. Over the past two weeks, IBIT ETF has received from Blackrock, FBTC’s Febllity, and Grayscale’s Mini Trust Etf approximately one billion dollars in flows, according to Farside Data.
Trump is the owner of the majority of the parent company of Trump Media & Technology Group, which has taken many strategic moves that are in line with the coded currency sector in recent months. These moves include digital asset products for brands and Bitcoin announcement of $ 2.5 billion Treasury plan Last week in Las Vegas.
According to the CNBC report, if the Truth Bitcoin ETF is approved, it will represent one of the “most political entries” in the successful fund for exchange.
When writing, Trump Memecoin is trading at $ 11.21, a decrease of more than 84 % of its highest level ever, $ 73 reached one day after its launch.
Distinctive image from Dall-E, Chart from TradingView.com
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