'Trump Media and Technology Group (TMTG)', owned by former U.S. President Donald Trump, has applied to launch a Bitcoin Exchange-Traded Fund (ETF).
According to CNBC on June 3 (local time), NYSE Arca, the electronic trading subsidiary of the New York Stock Exchange (NYSE), submitted a '19b-4 filing' for the listing of a Bitcoin ETF linked to Truth Social, which is owned by TMTG. This filing is a required step for U.S. regulators to determine whether to approve the ETF listing.
This ETF, named 'Truth Social Bitcoin ETF', is designed to track the price of Bitcoin. It allows investors to conveniently invest in Bitcoin without directly holding the cryptocurrency.
Previously, on May 28, TMTG announced at the 'Bitcoin 2025' event held in Las Vegas, United States, that it plans to issue $2.5 billion worth of stocks and convertible bonds and invest the proceeds in Bitcoin. This approach is similar to that of Strategy (formerly MicroStrategy), which is well known for its Bitcoin investments.
Additionally, in March, TMTG announced that it would partner with the cryptocurrency exchange Crypto.com to pursue the launch of digital asset-based ETFs and other related products.
Since the launch of the first spot Bitcoin ETF in January last year, the total assets under management of spot Bitcoin ETFs have rapidly grown and now exceed $130 billion (approximately 178 trillion won).
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