Trump’s Bitcoin and Ethereum ETF seeks green light on Wall Street
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It is a combined ETF that provides exposure to both financial assets.
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The ETF will be promoted by Truth Social, Trump family company.
The New York Stock Exchange (NYSE) formally requested the authorization of the Bolsa and Securities (SEC) of the United States to list an ETF that combines exposure to Bitcoin (BTC) and Ether (ETH), under the management of Truth Media, the company linked to President Donald Trump.
This proposal was presented through form 19B-4, which is part of the procedure required to allow the negotiation of financial products such as cryptocurrency ETFs. The fund is designed as a passive investment vehicle, whose objective is reflect the behavior of Bitcoin and Ether prices in default proportions.
The ETF will be issued and administered by Yorkville America Digital, while the custody of digital assets will be in charge of the company Foris Dax Trust Company. According to the official document, The fund would initially maintain a proportion of three to one Between Bitcoin and Ether, in terms of value, respectively.
The social truth social company, Trump Media and Technology Group (TMTG), presented the record documents to the SEC last week for the launch of this combined fund, as reported by cryptootics.
This request represents a separate initiative from the previous proposal by Trump Media to launch an exclusive Bitcoin ETF in cash. At the beginning of June, the company presented form S-1 to the SEC to propose a fund focused only on BTC, as this media also reported.
If approved, the new ETF of Bitcoin and Ethe would quote in Nyse Arca, the electronic market where most products linked to cryptoactive are listed. The proposal stands out in a context in which Bitcoin’s ETFs have already been approved in the United States, while the inclusion of other similar products is still evaluated with multiple digital assets, like Solana, XRP and other cryptoactives.
Trump Media has also communicated additional plans related to the cryptocurrency ecosystem. Last Monday he announced the repurchase of up to 400 million dollars in shares, and in May he informed about a collection of 2,320 million dollars with the aim of establishing a Bitcoin -based treasury.
The SEC must still review and respond to the proposal. The procedure implies a period of analysis that can be extended for several weeks or months, subject to public comments and market conditions.
