Trump Media's New Crypto ETF
Trump Media Eyes Blue-Chip Crypto ETF
Trump Media & Technology Group (NASDAQ: DJT) has filed with the SEC to launch a new cryptocurrency exchange-traded fund (ETF). This "Truth Social Crypto Blue Chip ETF" represents the latest in a series of crypto-related ventures from the Trump brand.
ETF Composition and Partners
The proposed ETF will track a portfolio of five major cryptocurrencies:
- Bitcoin (BTC): A significant portion of the fund's holdings.
- Ether (ETH): Another substantial allocation alongside Bitcoin.
- Solana (SOL): 8% of the portfolio.
- XRP (XRP): 2% of the portfolio.
- Cronos (CRO): 5% of the portfolio.
85% of the fund will be invested in Bitcoin and Ether. The ETF is developed in collaboration with Yorkville America Digital, the same asset manager behind Trump Media's previous ETF filings. Crypto.com's Foris DAX Trust Company will act as custodian.
Regulatory Process and Next Steps
The SEC has acknowledged the S-1 registration. The next step involves the exchange filing a 19b-4 form with the SEC, triggering a formal review timeline. This marks at least the third crypto ETF attempt associated with Trump Media.
Codeum's Role in Blockchain Security
While this news focuses on a new crypto ETF, Codeum plays a crucial role in ensuring the security and integrity of the broader blockchain ecosystem. Our services include smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies. These services are vital for projects seeking to build trust and protect their assets.
Disclaimer: This information is for educational purposes only and is not financial advice.