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Donald Trump is extending his push into crypto with a brand new plan to launch a Fact Social Bitcoin ETF, his newest transfer in an more and more controversial enlargement into digital property.
The proposed exchange-traded fund, filed by NYSE Arca on behalf of Yorkville America Digital, a monetary accomplice of Trump Media & Know-how Group, goals to trace Bitcoin’s worth efficiency.
If permitted, the Fact Social Bitcoin ETF would mark a significant enlargement of Trump’s rising crypto footprint, including to a controversial digital asset portfolio that features meme cash, NFTs, and a mining enterprise, lots of which have drawn scrutiny over potential conflicts of curiosity.
Fact Social Bitcoin ETF To Have Identical Custodian As Crypto.com
The submitting didn’t disclose particulars concerning the proposed Fact Social Bitcoin ETF, with the administration charge and ticker of the fund nonetheless unknown.
Nonetheless, NYSE Arca’s submitting did say the fund “seeks to replicate usually the efficiency of the value of bitcoin.” It’s going to additionally “replicate such efficiency earlier than cost of the Belief’s bills and liabilities.”
The fund will use DAX Belief Firm as its custodian, the identical firm that custody’s Crypto.com’s property.
Trump’s firm simply filed for a Fact Social Bitcoin ETF, which can observe spot bitcoin and listing on NYSE. pic.twitter.com/I3ejMbhyl1
— Eric Balchunas (@EricBalchunas) June 3, 2025
The submitting comes after Trump Media & Know-how Group signed an settlement with Yorkville America Digital and Crypto.com in April to launch a sequence of “Made in America” ETFs.
Fact Social Bitcoin ETF Will Add To Controversy Round Trump’s Crypto Increasing Empire
The brand new Fact Social Bitcoin ETF appears set so as to add new questions on Trump’s rising affect within the crypto house.
Trump is presently the biggest shareholder of Trump Media & Know-how Group, however transferred his shares to a belief managed by his son Donald Trump Jr. previous to coming into the White Home in January to move off issues round conflicts of curiosity.
Regardless of that, there’s concern across the Trump’s involvement in crypto with Trump himself having such nice affect over digital asset coverage within the US.
Trump’s different crypto endeavors embody the Official Trump (TRUMP) and Official Melania Meme (MELANIA) tokens, World Liberty Monetary (WLFI), a number of non-fungible token (NFT) collections, a stablecoin and a crypto mining firm.
Not too long ago, Trump Jr. stated that WLFI will quickly be launching its personal crypto pockets. Nonetheless, there was some confusion out there after Magic Eden and the workforce that launched TRUMP stated they’re partnering to launch the pockets.
Shortly thereafter, the President’s sons disavowed the pockets and stated they haven’t any information of the deliberate launch.
This mission will not be approved by @Trump. @MagicEden I’d be extraordinarily cautious utilizing our identify in a mission that has not been permitted and is unknown to anybody in our group. https://t.co/OovJGvGOkO
— Eric Trump (@EricTrump) June 3, 2025
Additionally they went on to warn Magic Eden about utilizing the Trump household identify to speed up the pockets’s market adoption.
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