The latest news from Golden Finance: Truth Social, the social platform owned by Trump, has made another step forward in the cryptocurrency field. On June 16th, according to Bloomberg analyst James Seyffart, the Truth Social Bitcoin and Ethereum ETF has officially submitted a registration statement to the U.S. Securities and Exchange Commission (SEC).
This measure was not without warning. As early as last month, Truth Social had registered an investment trust named “Truth Social Bitcoin and Ethereum ETF” in Nevada, marking its official entry into the field of crypto asset investment. Meanwhile, the partner Yorkville America Digital submitted Form 19b-4 to the SEC on June 3rd, applying for the trading of the ETF on the NYSE Arca.
If this registration statement is approved, this ETF will provide investors with a new investment channel, enabling them to indirectly invest in the two major mainstream cryptocurrencies, Bitcoin and Ethereum, through the traditional securities market. For many investors who are interested in cryptocurrencies but have concerns about the complexity and risks of their transactions, the emergence of ETFs undoubtedly offers a more convenient and regulated investment approach.
The parent company of Truth Social, Trump Media & Technology Group, has always shown a strong interest in the cryptocurrency field. In recent months, a series of actions, from applying for trademarks for digital asset products to announcing a $2.5 billion Bitcoin reserve plan, have demonstrated its determination to lay out in the cryptocurrency market. The submission of the registration statement for Bitcoin and Ethereum ETFs this time is an important strategic advancement for it in this field.
At present, the SEC has not responded to this registration statement. Given the high risk of the cryptocurrency market and the regulatory authorities’ emphasis on investor protection, the approval process is expected to attract much attention. All market participants are also closely observing whether Truth Social’s cryptocurrency ETF plan can break through regulatory barriers and smoothly enter the market, providing investors with new investment options.
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