NYSE Pursuing Authorization for Listing Exchange-Traded Funds (ETFs) Tied to Bitcoin and Ethereum, Endorsed by Former President Trump
In a significant move that underscores the growing intersection between politics, media, and digital finance, Trump Media & Technology Group (TMTG) has filed an application with the U.S. Securities and Exchange Commission (SEC) for a Bitcoin and Ethereum Exchange-Traded Fund (ETF). The proposed Truth Social Bitcoin and Ethereum ETF, if approved, would directly hold a portfolio consisting of 75% Bitcoin and 25% Ethereum, with Crypto.com acting as the exclusive custodian and liquidity provider [2][3][4].
The New York Stock Exchange (NYSE) has proposed a rule change under the SEC’s 19b-4 process to allow the listing of this new fund on NYSE Arca. This marks a significant procedural step toward potential public trading, though it does not guarantee SEC approval [4][2]. The ETF’s shares are intended to be listed on NYSE Arca once all regulatory requirements are satisfied [2][4].
The proposed rule change emphasizes safeguards against fraud and market manipulation, ensuring that the ETF adheres to established listing and trading standards [1]. If approved, the fund would track the prices of both BTC and ETH, offering investors a simplified and regulated means of gaining exposure to the two leading digital assets [1][2][4].
It's important to note that this article serves as an informational piece and does not provide financial advice. The specifics, including the ETF's ticker and designated cash custodian, have yet to be revealed.
The Truth Social ETF represents a high-profile entry into the crypto investment space at a time when regulatory attitudes appear to be shifting. With the SEC reviewing the 19b-4 rule change, the ETF's ultimate authorisation for market listing is not guaranteed [1].
If approved, the Truth Social ETF could further cement the growing intersection between politics, media, and digital finance. Keep an eye on this developing story as we await the SEC's decision.
The New York Stock Exchange (NYSE) has indicated interest in listing the proposed Truth Social Bitcoin and Ethereum ETF, which, if approved, could potentially enable investors to gain a regulated exposure to technology-driven finance through investing in digital assets like Bitcoin and Ethereum. The SEC's review of the 19b-4 rule change for the proposed ETF may signal a shift in regulatory attitudes towards finance, technology, and investments.
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