Trump Media, the company behind Truth Social, Truth+ and the fintech brand Truth.Fi, is getting closer to launching its own exchange-traded fund (ETF) based on Bitcoin, filing an amended filing with the U.S. Securities and Exchange Commission (SEC) on August 11.
Form S-1 for spot Bitcoin-Truth Social product Bitcoin ETF» (ticker: BT) provides information on directly storing BTC and tracking its market performance through publicly traded shares.
According to updated information, Crypto.com will become the sole custodian of this year’s bitcoins ETF, the primary execution agent and liquidity provider.
ETF debuts only after two events: the SEC’s filing is declared effective and the regulator approves the 19b-4 form. Following the listing, the shares will be listed on the NYSE Arca and sponsored by Yorkville America Digital.
With luck, Trump Media will soon join a growing list of firms vying for a share of the spot market. bitcoin ETF, which has already received billions in injections since it was approved by the US earlier this year.