Trump Media and Technology Group (DJT) has filed to list a Truth Social Bitcoin and Ethereum exchange traded fund (ETF) on Monday.
The ETF will hold bitcoin
and ether directly with 75% of capital being allocated to bitcoin and the remaining 25% to ether, according to a filing with the Securities and Exchange Commission (SEC).
Singapore-based exchange Crypto.com will act as the ETF’s custodian as well as taking and liquidity provider. Trump Media and Technology Group signaled its intent of issuing an ETF earlier this month as it made a standalone registration for a spot bitcoin ETF.
The inclusion of ether is in-keeping with the Trump family’s crypto activity; World Liberty Financial, the DeFi project backed by the family, holds 96% of it assets on the Ethereum blockchain, Arkham data shows.
If approved the fund would join a long list of crypto ETFs including those managed by BlackRock, Grayscale, Fidelity and Franklin Templeton. Bitcoin ETFs alone have $131 billion in assets under management.
Read more: Trump’s Truth Social Takes Next Step in Launching Spot Bitcoin ETF
