New Bitcoin move from Donald Trump
Truth Social, the social media platform owned by US President Donald Trump, has filed for an exchange-traded fund (ETF) to track Bitcoin's price performance. The application is awaiting SEC approval and aims for the platform to be traded on the stock exchange.
An exchange-traded fund (ETF) application has been filed for Truth Social, the social media platform owned by US President Donald Trump. In a statement released by NYSE Arca, it was noted that this application is part of the Securities and Exchange Commission (SEC) approval process. The purpose of the application was stated as the fund tracking Bitcoin's price performance and beginning to trade on the stock exchange.
In the application documents, it was stated that the fund aims to reflect the performance of the Bitcoin price, and to reflect this performance before the payment of the fund's expenses and liabilities. Yorkville America Digital, LLC was designated as the sponsor of the ETF, while custodial services will be provided by Foris DAX Trust Company, LLC. Yorkville describes itself as an "America-first asset management firm."
Trump Media and Technology Group continues to trade on the Nasdaq stock exchange as the operator of the Truth Social and Truth.Fi platforms.
News Source: 12punto
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