The Trump Media and Technology Group on Monday is demanding the launch of an exchange-treated funds investing in both the two largest cryptocurrency, bitcoin and atherium, according to the filing with the US Securities and Exchange Commission on Monday.
It marks another Cryptocurrency ETF In less than two weeks, filing from the social media company associated with President Donald Trump. If approved, the truth social bitcoin ETF and truth social bitcoin and atherium ETF will join a crowd and competitive market that is already dominated by a handful of established asset managers. black RockWhose Ishares Bitcoin ETF has $ 72.5 billion (about Rs 6,24,624 crore) in property.
“It will be a challenge for any new entry into this market,” said ETF analyst Brian Armor, Morningstar. “The only way to stand out will be through fees or brand.”
Filing for new Bitcoin And Ethereum The ETF does not disclose the proposed fee, and Trump Media has not yet revealed the fee for Bitcoin ETF. The fees of similar products are 0.12 percent.
Trump media representatives did not immediately respond to the remarks request.
Kavach mentioned that the latest filing mantra a specific allocation ratio between bitcoin and atherium. The issuer, Yorkville America Digital, stated that it initially estimates to have three bitcoins for each atherium token in ETF.
CF Benchmark CEO and Chairman Sui Chung said, “There is very little about this new enterprise, the way it can be marketed.” “Given the truth social participation, it can be very well that (this) is marketed directly to individual investors and it attracts attention from investors in the same way as people who love their iPhones, they buy Apple Stock.”
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