Trump Media & Technology Group. Bitcoin,ether, Solana There are others.
A social media company owned by President Donald Trump attempted to launch a “crypto blue chip” fund, and paperwork marked its third ETF application, according to a filing Tuesday. If launched, the fund will directly hold Bitcoin, Ether, Solana, Kronos and XRP, although nearly three-quarters of them will be made up of Bitcoin, the largest mark on the market. Although ETF holdings of Bitcoin and Ethereum have been traded in the United States, no such funds directly hold Cronos or XRP.
It marks the third application submitted by Trump Media for crypto-based ETFs, which has applied for Bitcoin – a product and a Binding For Bitcoin only. If any of them launches, they will join the crowded cryptocurrency product because like many other digital asset-based products, there are already over 10 Bitcoin-specific funds in the U.S. Trump’s media products will also provide direct competition for issuers who stand out in the field.
Trump media is the company behind the Truth Society and is the majority stake owned by the president. The president’s deepening crypto-connections have drawn criticism from ethical experts who point out that areas where Trump also formulates policies have the potential to gain economic benefits. The White House said the president was isolated from his business of the same name.
The president accepted the cryptocurrency industry during the presidential campaign and delivered on many promises. Bitcoin’s price has risen in Trump’s second semester, with the coin price rising about 55% since October and is currently trading at about $108,900.
