Former US President Donald Trump's Trump Media & Technology Group (TMTG) has officially filed an application to launch a spot Bitcoin ETF named Truth Social Bitcoin ETF.
📌 Basic Features of ETF: • It is configured to hold Bitcoin directly. • It is planned to be traded on the NYSE Arca exchange. • The sponsor, Yorkville Digital, has previously worked with TMTG.
📊 Purpose: To provide investors with the opportunity to gain exposure to Bitcoin price performance without directly investing in digital assets.
🏛️ Political Background: Trump had previously taken a negative stance against Bitcoin. However, recently he has been more favorable towards digital assets. He even supported a decision proposing the establishment of a "Strategic Bitcoin Reserve" owned by the U.S. government.
📉 Market Reaction: Following the news, Trump Media shares fell by 8%. This reflects investors' cautious approach to entering the crypto market.
🔍 Upcoming Process: The approval of the SEC is required for the ETF to become operational. The evaluation period is approximately 240 days.
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.
#Trump Files for Bitcoin ETF
🇺🇸 Trump’s Bitcoin ETF Move
Former US President Donald Trump's Trump Media & Technology Group (TMTG) has officially filed an application to launch a spot Bitcoin ETF named Truth Social Bitcoin ETF.
📌 Basic Features of ETF:
• It is configured to hold Bitcoin directly.
• It is planned to be traded on the NYSE Arca exchange.
• The sponsor, Yorkville Digital, has previously worked with TMTG.
📊 Purpose:
To provide investors with the opportunity to gain exposure to Bitcoin price performance without directly investing in digital assets.
🏛️ Political Background:
Trump had previously taken a negative stance against Bitcoin. However, recently he has been more favorable towards digital assets. He even supported a decision proposing the establishment of a "Strategic Bitcoin Reserve" owned by the U.S. government.
📉 Market Reaction:
Following the news, Trump Media shares fell by 8%. This reflects investors' cautious approach to entering the crypto market.
🔍 Upcoming Process:
The approval of the SEC is required for the ETF to become operational. The evaluation period is approximately 240 days.