NYSE ARCA has submitted a Form 19B-4 application to the US Securities and Exchange Commission (SEC) to ask approval to list the Truth Social Bitcoin ETF, a Bitcoin exchange fund (ETF) associed with Trump Media & Technology Group).
The relocation represents the last trip of TMTG in the cryptocurrency sector, in accordance with the pro-Crypto attitude of President Donald Trump.
The proposed ETF is intended to offer investors direct exposure to the price movements of Bitcoin (BTC) without the complexity of possessing the cryptocurrency. The fund is designed to simplify the investments in Bitcoin by eliminating operational obstacles related to direct ownership.
TMTG applied for various investment products under his truth. Fi brand earlier this year, including the truth.fi Bitcoin Plus ETF, Truth.fi Made in America ETF and Truth.fi US Energy Independence ETF.
These initiatives reflect the broader TMTG strategy to expand its offer of financial services and to take advantage of the growing interest in cryptocurrency investments.
The submission follows TMTG’s announcement with regard to plans to collect around $ 3 billion to set up a Bitcoin Treasury reserve, so that the company is placed as an important player in the cryptocurrency space.
TMTG coordinates the move to other companies that have integrated Bitcoin in their financial strategies after the success of the strategy in pioneering acceptance.
Since the second first place Bitcoin ETFs approved in January 2024, these investment vehicles have put on considerable inflow, with BlackRock’s Ishares Bitcoin Trust (IBIT) alone more than $ 71 billion in assets under management.
The growing popularity of Spot Bitcoin ETFs indicates the increasing demand for regulated investment options for cryptocurrency.
The assessment process of the SEC for the Truth Social Bitcoin ETF will include a public comment period and several evaluative phases, with a final decision that is expected in the coming months.
From the moment of the press, Bitcoin was traded at around $ 105,445, as a result of an increase of around 12%.