Trump Media Files Amendment to Bitcoin ETF Registration, Crypto.com to Offer Custody
Main Idea
Trump Media filed an amended S-1 registration with the SEC for its Bitcoin ETF, with Crypto.com serving as custodian and liquidity provider, aiming to reflect Bitcoin's price performance if approved.
Key Points
1. Trump Media filed an amendment to its S-1 registration for a Bitcoin ETF, though the specific changes were not detailed.
2. Crypto.com will act as the Bitcoin custodian and liquidity provider, while Yorkville America Digital will serve as the fund’s sponsor.
3. The ETF, if approved, will hold Bitcoin directly and offer shares to investors to track Bitcoin’s price performance.
4. The amendment reflects updates from June to August 2025, including policies for handling Incidental Rights and updates to creations and redemptions.
5. The Bitcoin ETF market is highly competitive, with major players like BlackRock, Fidelity, Grayscale, and Ark Invest already established.
Description
Trump Media, which operates the social media platform Truth Social, has filed an amendment to the S-1 registration with the SEC for its Bitcoin exchange-traded fund (ETF). The amended filing does not include essential details such as the fee or a ticker symbol for the fund, Bloomberg Intelligence senior ETF analyst Eric Balchunas pointed out. Truth Social just filed an amendment to its spot bitcoin ETF. Not sure what was tweaked. No fee yet, which I am REALLY curious about. Also no ticker. I won...
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