Trump Media & Technology Group Corp. is filing for an exchange-traded fund, named "Crypto Blue Chip," focused on multiple digital assets such as Bitcoin, Ether, Solana, Cronos, and XRP. The filing marks the company's third attempt to enter the cryptocurrency ETF space, with Bitcoin forming the majority composition of the fund. The move comes amidst an expanding market featuring over ten existing Bitcoin-focused funds in the U.S., intensifying competition among cryptocurrency asset issuers. Criticism regarding the ethical implications of the president’s financial ties to the crypto industry has emerged, despite assurances of separation from business operations.
Trump Media & Technology Group Corp. has filed for a new exchange-traded fund, "Crypto Blue Chip", seeking to hold various digital assets, primarily Bitcoin.
The fund would directly hold Bitcoin, Ether, Solana, Cronos, and XRP, with nearly three-quarters consisting of Bitcoin.
This marks Trump Media's third filing for crypto ETFs, aiming to enter a crowded marketplace of existing crypto-focused funds.
Concerns have been raised by ethics experts regarding potential financial gains from the president's involvement in the cryptocurrency space.
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