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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 & Expertise Group, goals to trace Bitcoin’s worth efficiency.
If permitted, the Fact Social Bitcoin ETF would mark a serious 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 Similar Custodian As Crypto.com
The submitting didn’t disclose particulars concerning the proposed Fact Social Bitcoin ETF, with the administration payment and ticker of the fund nonetheless unknown.
Nonetheless, NYSE Arca’s submitting did say the fund “seeks to mirror typically the efficiency of the value of bitcoin.” It’ll additionally “mirror 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 is able to observe spot bitcoin and record on NYSE. pic.twitter.com/I3ejMbhyl1
— Eric Balchunas (@EricBalchunas) June 3, 2025
The submitting comes after Trump Media & Expertise Group signed an settlement with Yorkville America Digital and Crypto.com in April to launch a collection 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 seems to be set so as to add new questions on Trump’s rising affect within the crypto house.
Trump is at present the biggest shareholder of Trump Media & Expertise 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 go off considerations 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. mentioned that WLFI will quickly be launching its personal crypto pockets. Nonetheless, there was some confusion available in the market after Magic Eden and the crew that launched TRUMP mentioned they’re partnering to launch the pockets.
Shortly thereafter, the President’s sons disavowed the pockets and mentioned they haven’t any information of the deliberate launch.
This venture isn’t licensed by @Trump. @MagicEden I’d be extraordinarily cautious utilizing our title in a venture that has not been permitted and is unknown to anybody in our group. https://t.co/OovJGvGOkO
— Eric Trump (@EricTrump) June 3, 2025
In addition they went on to warn Magic Eden about utilizing the Trump household title to speed up the pockets’s market adoption.
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