Trump Media files for two cryptocurrency ETFs linked to Bitcoin and Ether
- Trump Media & Technology Group has filed with the SEC for two new exchange-traded funds (ETFs): Truth Social Bitcoin (BTC) and Ether (ETH) ETF, and Truth Social Cronos (CRO) Yield Maximizer ETF.
- The proposed ETFs aim to track the performance of Bitcoin, Ether, and the CRO token from Crypto.com, including staking rewards.
- Each ETF is expected to charge a management fee of 0.95% and will be accessible through Foris Capital US LLC.
- Crypto.com will provide custody, liquidity, and staking services for these funds if approved by regulators.
- Spot Bitcoin ETFs have recently faced four weeks of consecutive outflows totaling $360 million in withdrawals.
The filing represents Trump Media’s ongoing interest in cryptocurrency initiatives as it seeks to offer investment opportunities in digital assets through ETFs. The performance tracking aims to include both capital appreciation and income from staking rewards.
With the proposed ETFs targeting major cryptocurrencies like Bitcoin and Ether, this move could reshape investor access to digital asset markets amid recent trends of significant outflows from existing Bitcoin ETFs.(Source)
