Editor's PiCK
Trump Media submits amended filing to SEC… One step closer to launch of spot Bitcoin ETF
Summary
- Trump Media & Technology Group has announced that it has submitted the first amended registration statement required for the launch of a spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC).
- It was reported that the ETF is structured to allocate 70% of its assets to Bitcoin, 15% to U.S. Treasury bonds, and 15% to cash or cash equivalents.
- TMTG is pursuing this ETF as part of a long-term strategy centered on Bitcoin and has stated that it aims to achieve listing on NYSE Arca within this year.
Trump Media & Technology Group (TMTG), with Donald Trump, the former U.S. President, as its largest shareholder, is accelerating the launch of the Truth Social Bitcoin ETF.
According to crypto-focused media outlet CryptoSlate on the 11th (local time), TMTG has submitted its first amended registration statement (Form S-1) for the launch of a spot Bitcoin (BTC) exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC).
The ETF is designed to allocate 70% of its assets to Bitcoin, 15% to U.S. Treasury bonds, and the remaining 15% to cash or cash equivalents. Yorkville America Digital will serve as the manager, while Crypto.com will be responsible for custody, trade execution, and liquidity provision.
Both the registration statement and listing application (Form 19b-4) must be approved by the SEC for the ETF to be launched. Although TMTG has not specified a concrete timeline, it announced that its goal is to launch within this year. If approved, the ETF is expected to be listed on NYSE Arca under the ticker 'B.T.'
TMTG explained that the ETF is part of its long-term Bitcoin-centric strategy. Currently, TMTG already holds a substantial amount of Bitcoin as part of its corporate treasury and is working to expand digital asset products via its financial services division.
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