Trump’s social media platform, Truth Social, has applied to the SEC for a new exchange-traded fund (ETF) that would invest in both Bitcoin (BTC) and Ethereum (ETH).
The ETF Proposal
The filing describes the ETF as a trust that will hold BTC and ETH, with each share representing a piece of the trust’s assets. Yorkville America Digital is sponsoring the fund, and Foris DAX Trust Company, linked to Crypto.com, will handle the crypto custody.
Recent Crypto Controversy
This news comes after reports that Trump was allegedly pressured by a lobbying firm to promote XRP on social media. He later announced plans for a “Crypto Strategic Reserve” including XRP, SOL, and ADA through his Truth Social platform. Sources say a lobbying firm employee repeatedly urged Trump to make this announcement.
Disclaimer: This information is for news purposes only and is not financial advice. Always do your own research before investing in cryptocurrencies.
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