On July 8, Truth Social, a company of Donald Trump’s Trump Media and Technology Group, applied for encryption blue chip ETF to the US Securities and Exchange Commission.
Trump’s truth social file for the new ETF
recent filing The SEC comes after the recognition of the application of Trump Media’s Bitcoin and Etherum Exchange Transaction Fund on July 7.
The ETF invests in major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cronos (CRO) and Rippl (XRP). Most of the funds are about 70%of them into Bitcoin and the small parts are assigned to other coins.
This ETF traces the performance of the default digital assets to provide investors with easy ways of encryption market.
ETFs will have Cryptocurrencies directly, so investors do not need to buy and store coins. Instead, they can buy stocks of ETFs, which will increase or fall depending on the performance of the basic assets.
Crypto.com, a well -known encryption exchange, will handle the storage and transactions of digital assets and provide staying and liquidity services.
Prior to the start of the ETF, the US Securities and Exchange Commission (SEC) is required. The company has submitted the necessary documents, but the process may take time. If approved, the ETF is listed on NYSE ARCA, a securities exchange specializing in ETF and other investment products.
At present, investors must wait for regulatory approval before using the ETF. If you are successful, the truth social encryption blue chip ETF can attract both encryption lovers and traditional investors who find simple ways to diversify with cryptocurrency.
The launch also can also be more interested in Trump Media’s other ventures, including Truth Social and Streaming and Financial Services Platform.
In the official statement, the company wrote: “The launch of The Truth Social Crypto Blue Chip ETF is approved for the efficiency of the registration statement and the 19B-4 form with SEC.
The ETF diversified its investment and opened a way for the adoption of the mainstream of cryptocurrency. Encryption ETFs are rapidly increasing in popularity among institutional investors regarded as a safer and more regulated method that can be exposed to digital assets.
Unlike directly investing or actually owning Cryptocurrencies, the ETF provides a familiar investment structure. This reduces the risk of hacking or loss of personal key.
Major financial institutions, including Blackrock and Fidelity, started the Bitcoin and Ethereum ETFs, and attracted billions of inflows as pension funds, hedge funds and asset managers pursued encryption exposure without operational trouble.
Also read: Bit Digital Join Enth Enth Treasury Trend moves in alternation of $ 170 million.