Trump Media and Technology Group (DJT) has presented on Monday a negotiated fund in Bitcoin and Ethereum Exchange (ETF).
The ETF will hold Bitcoin
and Ether directly with 75% of the capital assigned to Bitcoin and the remaining 25% to Ether, according to a presentation before the Bag and Securities Commission (SEC).
Exchange Crypto.com, based in Singapore, will act as the custodian of the ETF, as well as the liquidity provider and the liquidity supplier. Trump Media and Technology Group indicated his intention to issue an ETF earlier this month, since he made an independent registry for an ETF of Bitcoin Spot.
The inclusion of ether is the activity of cryptocurrencies of the Trump family; World Liberty Financial, the Defi project backed by the family, has 96% of IT assets in the Ethereum block chain, according to Arkham’s data.
If approved, the background would join a long list of cryptographic ETFs, including those administered by Blackrock, Grayscale, Fidelity and Franklin Templeton. Bitcoin ETFs only have $ 131 billion in assets under administration.
Read more: Trump’s Truth Social takes the next step in the launch of Spot Bitcoin ETF
