Golden Finance reported that on Monday local time, a document submitted to the US Securities and Exchange Commission (SEC) revealed new developments at Trump Media Technology Group (stock code DJT.O). This social media company closely associated with former US President Trump is planning to launch an ETF fund, and the investment targets are precisely the two giants in the cryptocurrency field – Bitcoin and Ethereum. These two cryptocurrencies, with their huge market capitalization, have long remained at the forefront of the cryptocurrency market.
It is worth noting that this is not the first time the company has ventured into the field of crypto ETFs. In less than two weeks, Trump Media Technology Group has submitted two applications for cryptocurrency ETFs. Once the “Truth Social Bitcoin ETF” and the “Truth Social Bitcoin & Ethereum ETF” are approved, they will enter a highly competitive market. At present, this market is already dominated by a few well-known asset management companies such as BlackRock. Take BlackRock’s iShares Bitcoin ETF as an example. The assets it manages have reached an astonishing 72.5 billion US dollars and it holds a pivotal position in the market.
For Trump Media Technology Group, this foray into the crypto ETF market is undoubtedly an adventure that combines challenges and opportunities. In the face of the dominance of giants like BlackRock, whether the company can leverage its own characteristics to secure a share in the highly competitive market not only concerns its future development but also attracts the attention of many investors and industry insiders. Moreover, the approval result of the SEC has become a key factor in determining the course of events.
Related Topics:
- The chairperson of the US SEC: An “Innovation exemption” policy is being formulated for DeFi platforms
- Trump authorized the US delegation to show flexibility in some export controls during economic and trade negotiations
- The core developers of Bitcoin plan to implement the major change OP_RETURN in October
