U.S. President Donald Trump’s media firm is accelerating its crypto play.
The New York Inventory Alternate filed for a rule change on Tuesday that may allow it to checklist the Reality Social Bitcoin and Ethereum ETF, a dual-asset fund proposed simply final week by Trump Media and Expertise Group.
If authorised, the ETF would maintain bitcoin BTC and ether ETH in a 3:1 ratio and be custodied and executed by Crypto.com, which additionally serves because the fund’s liquidity supplier.
The submitting, made below the SEC’s 19b-4 course of, marks a key procedural step towards public buying and selling however doesn’t assure approval.
It comes lower than a month after Trump Media mentioned it might increase $2.4 billion to construct its personal BTC treasury, although there have been no introduced purchases thus far.
Past the Reality Social ETF filings, Trump Media and Yorkville are planning a full suite of politically branded crypto merchandise, together with the America First Bitcoin Fund, the America First Blockchain Leaders Fund, and the America First Stablecoin Earnings Fund.
Solely the Reality-branded ETFs have been formally filed with the SEC thus far.
Learn extra: Donald Trump's Reality Social Recordsdata for Twin Bitcoin and Ether ETF
