U.S. President Donald Trump’s planned %Bitcoin (CRYPTO: $BTC) and %Ethereum (CRYPTO: $ETH) exchange-traded fund (ETF) has taken a step closer to launching.
The New York Stock Exchange (NYSE) has filed for a rule change that would enable %TrumpMedia & Technology Group (NASDAQ: $DJT) to list the “Truth Social Bitcoin and Ethereum ETF,” a dual-asset fund, to begin trading on the big board.
If approved, the ETF would hold both Bitcoin and Ethereum in a 3:1 ratio and be custodied and executed by Crypto.com, which will also serve as the fund’s liquidity provider.
The New York Stock Exchange filing, made through the U.S. Securities and Exchange Commission (SEC), marks a procedural step toward public trading but doesn’t guarantee approval.
Still, the filing comes less than a month after Trump Media, the company behind the Truth Social platform that was launched by President Trump, said it would raise $2.4 billion U.S. to build a Bitcoin treasury.
Beyond the Truth Social Bitcoin/Ethereum ETF, Trump Media is planning a full suite of politically branded %Cryptocurrency products.
These crypto products include an “America First Bitcoin Fund,” the “America First Blockchain Leaders Fund,” and the “America First Stablecoin Income Fund.”
Only the proposed Bitcoin/Ethereum ETF has been filed with the SEC for approval so far.
Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at $107,250 U.S., having gained 15% this year.
