Trump Media Submits Bitcoin ETF Proposal, Will Compete with BlackRock


Trump Media & Technology Group (TMTG) has filed an Exchange-Traded Fund (ETF) Bitcoin (BTC) with regulators under the name Truth Social Bitcoin. This move will provide an investment offering in the hotly discussed crypto assets, according to Bloomberg.
This document is submitted by the NYSE Group in collaboration with Yorkville America Digital in the proposal on Tuesday (03/06). If approved, the company owned by U.S. President Donald Trump will compete with the Bitcoin ETF giant, BlackRock.
It is known that the initiative has drawn both support and opposition regarding Trump's ethics in profiting from the crypto business. Experts assess that there is a conflict of interest, especially since the crypto project World Liberty Financial (WLFI) has also launched a stablecoin USD1.
As information, Trump Media has successfully secured funding of US$2.44 billion or equivalent to Rp36 trillion from around 50 institutional investors for massive investments in Bitcoin.
#BTC
TRUMP-2,19%
BTC-0,85%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 2
  • Repost
  • Share
Comment
0/400
Ryakpandavip
· 06-04 11:38
Steady HODL💎
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)