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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
Check out and engage with Kevin_Lee’s latest post!
👉 Post: https://www.gate.com/post/status/11758920
👉 Profile: https://www.gate.com/profile/Kevin%20Lee
Let’s give Kevin_Lee a warm welcome! 👏👏👏
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NYSE submits revised documents for Trump Media BTC and ETH ETF applications
Gate News bot message, according to CoinDesk, Donald Trump's media company Trump Media is accelerating its Crypto Assets business layout.
The New York Stock Exchange applied on Tuesday to amend its rules to allow for the listing of 'Truth Social' BitCoin and Ethereum ETFs, a dual-asset fund proposed just last week by the Trump Media Technology Group.
If approved, the ETF will hold Bitcoin (BTC) and Ethereum (ETH) at a ratio of 3:1.
This application is submitted pursuant to the 19b-4 procedure of the U.S. Securities and Exchange Commission (SEC), marking a key procedural step towards public trading, but does not guarantee approval.
Less than a month ago, Trump Media (Trump Media) announced that it would raise $2.4 billion to establish its own BTC reserve, although no purchase plan has been announced yet.
In addition to the application for the Truth Social ETF, Trump Media and Yorkville also plan to launch a full set of politically themed Crypto Assets products, including the 'America First' Bitcoin Fund, the 'America First' Blockchain Leaders Fund, and the 'America First' Stablecoin Income Fund.
So far, only the ETF of the Truth brand has formally submitted an application to the U.S. Securities and Exchange Commission.