$2.5B Bitcoin Treasury? Trump’s Truth Social Files for Spot BTC ETF via NYSE Arca

2d ago•

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According to a Tuesday filing with the SEC, NYSE Arca, the electronic trading arm of the New York Stock Exchange, is seeking approval to list a new spot Bitcoin ETF connected to Truth Social.

It is headed by Trump Media & Technology Group. This shows that TMTG is becoming more serious about getting involved in digital assets and highlights Donald Trump’s growing support for cryptocurrency.

NYSE Arca Moves Forward with Plan to Launch Spot Bitcoin ETF

The NYSE Arca’s SEC submission, which is filed through the official Form 19b-4 process, lays out a plan to launch the Truth Social Bitcoin ETF, which is a spot Bitcoin ETF that will follow Bitcoin’s market price.

NYSE Arca

The main goal is to let regular investors gain exposure to Bitcoin’s price changes without having to actually own or store the Cryptocurrency themselves. Experts say this move shows that the TMTG is now getting more involved in the financial side of the crypto industry.

James Roth, a senior analyst at crypto advisory firm LedgerBridge, said it is no longer just about the technology. They are showing that they want to be seen as a serious player in the investment world.

A Simpler Path to Bitcoin Investment

The Bitcoin ETF, submitted by NYSE Arca, is designed for easy access. It lets investors gain Bitcoin exposure through a regulated fund, removing common barriers that often keep traditional investors away from crypto.

Clara Wong, a regulatory attorney in fintech, said the fund is made to skip the hard parts of dealing with crypto directly. She said that it might help older people or those who are not good with technology to start investing in Bitcoin more easily.

TMTG plans to use the Truth Social brand as part of its bigger Truth.Fi project, which includes several trademarked financial products.

By launching ETFs like the Truth.Fi Bitcoin Plus ETF and Truth.Fi the US Energy Independence ETF, the company is working to create a financial service focused mainly on crypto.

TMTG’s Crypto Expansion Gains Momentum

The NYSE Arca filing is the latest move in Trump Media’s growing focus on crypto. Recently, the company announced a $2.5 billion Bitcoin treasury plan after announcing a partnership with Crypto.com in March.

This collaboration is expected to bring out new digital asset products. This includes bundles of tokens and ETFs under the Truth Social name.

Market experts see these developments as proof that TMTG is serious about growing in the fast-rising crypto market. Since the SEC approved the first spot Bitcoin ETFs in January 2024, these funds have attracted more than $130 billion in assets.

Bitcoin Price Momentum Fuels Market Optimism

Currently, Bitcoin is trading around $105,371.27, showing a steady increase of 12% this year. The 24 trading volume is $44.78B backed by a current market cap of $2.09T

Bitcoin ETF

This strong performance, along with growing investors’ interest in regulated options, has made spot Bitcoin ETFs a popular way for big institutions and regular investors to get into crypto.

Market expert Alan Douglas said this is good timing. Since NYSE Arca supports the filing and Bitcoin is doing well, this ETF has a good chance of getting approved.

Conclusion

NYSE Arca’s plan to list the Truth Social Spot Bitcoin ETF is an important move that connects regular finance with the fast-growing crypto world. With this ETF, investors can easily get Bitcoin exposure through a regulated and simple way.

It also shows that TMTG is serious about growing in crypto. Since Bitcoin’s price is steadily rising and more people want Bitcoin ETFs, experts think this ETF might get approved. This might create new opportunities for retail and institutional investors.