Trump's Trump Media Submits BTC, ETH Blend Spot ETF Application to SEC

BlockBeats News, July 2nd, Trump-affiliated Trump Media and Technology Group Corp. (Nasdaq, NYSE code: DJT) today announced that it has submitted the initial registration statement (referred to as the "registration statement") for the Truth Social Bitcoin and Ethereum ETF to the U.S. Securities and Exchange Commission. The ETF will directly hold Bitcoin and Ethereum, with 75% of its assets invested in Bitcoin and 25% invested in Ethereum, and will issue its shares (referred to as "shares") to investors, aiming to reflect the price performance of Bitcoin and Ethereum.

Crypto.com will serve as the exclusive Bitcoin and Ethereum custodian and primary agent for the ETF, as well as the staking and liquidity provider. The launch of the Truth Social Bitcoin and Ethereum ETF is subject to the effectiveness of the registration statement and approval of the 19b-4 form submitted to the U.S. Securities and Exchange Commission. Once listed, its shares will be listed on the New York Stock Exchange Arca. Yorkville America Digital will act as the ETF's sponsor.