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Trump Media has officially submitted its application with the U.S. Securities and Exchange Commission (SEC) to launch a dual cryptocurrency exchange-traded fund (ETF). The proposed product will list on NYSE Arca and hold 75% Bitcoin and 25% Ether, offering institutional and retail investors a new avenue for regulated exposure to digital assets.
The filing marks a significant step in Trump Media’s entry into the cryptocurrency investment sector. By listing its shares on a major exchange like NYSE Arca, Trump Media aims to provide a reliable valuation mechanism using CME CF reference rates for both Bitcoin and Ether. The daily net asset value of the ETF will be updated to ensure market alignment.
The proposed structure aligns with the growing demand for spot crypto products as institutions increasingly seek exposure to digital assets. Crypto.com will act as the custodian, securing and managing all digital assets in cold storage, isolated from other clients’ accounts. This ensures strict compliance with regulatory requirements.
Trump Media’s application comes amidst a flurry of recent developments. The SEC has recently delayed decisions on several ETF proposals, including Fidelity’s Solana ETF. In a new public comment period, the regulator is seeking feedback and rebuttals within 35 days. This delay has been interpreted by some as an indicator of increased regulatory engagement and scrutiny.
The acceptance of Trump Media’s application highlights the growing influence of digital assets in regulated markets. As the SEC reviews this filing, it may pave the way for broader access to spot crypto products.
Source: coincentral.com
