SEC Begins Review of Trump Media’s Bitcoin-Heavy ETF Proposal Amid Broader Crypto ETF Developments
2025-07-08 05:07:34
Main Idea
The SEC has begun reviewing Trump Media's Bitcoin and Ethereum ETF application, marking a significant step in regulatory consideration of crypto ETFs, while Fidelity's Solana ETF faces delays.
Key Points
1. The SEC's acceptance of Trump Media's Bitcoin and Ethereum ETF application initiates a regulatory review period, with the ETF proposing a 75% Bitcoin and 25% Ether allocation.
2. The ETF plans to list on NYSE Arca, with custody handled by Foris DAX Trust in cold storage and Yorkville America Digital as the sponsor.
3. The ETF's NAV will be calculated daily using the CME CF Bitcoin and Ether Reference Rates for valuation.
4. The SEC has delayed its decision on Fidelity's proposed Solana ETF, extending the public comment period and requesting additional feedback.
5. The SEC's actions indicate a cautious but ongoing process towards potential approval of crypto ETFs, with iterative reviews and amendments.
Description
The US Securities and Exchange Commission (SEC) has officially accepted the application for a combined Bitcoin and Ethereum exchange-traded fund (ETF) filed by Trump Media, marking a significant step in
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