Nikolas Sargeant
NYSE Arca has filed a proposed rule change with the Securities and Exchange Commission to list and trade the Truth Social Bitcoin and Ethereum ETF, described as a "passive investment vehicle that seeks to generally reflect the performance of the price of bitcoin and ether." The filing, submitted through a 19b-4 form on Tuesday, represents the latest step in Trump Media & Technology Group's expansion into cryptocurrency markets.
The proposed ETF would maintain a 75% Bitcoin and 25% Ethereum allocation, directly holding both cryptocurrencies rather than using derivatives or futures contracts. The fund would trade under the ticker symbol "BT" on NYSE Arca, the digital arm of the New York Stock Exchange. This structure joins an earlier DIxion proposal in that it positions the ETF as a straightforward way for investors to gain exposure to the two largest cryptocurrencies through traditional market channels.
Trump Media & Technology Group initially filed with the SEC seeking approval for the exchange-traded fund last week, marking the company's deeper push into digital assets. The move comes as the cryptocurrency industry experiences renewed institutional interest and regulatory clarity under the current administration. The company previously confirmed a $2.5 billion capital raise to purchase Bitcoin in late May, signaling its commitment to cryptocurrency investments.
The filing reflects broader shifts in regulatory attitudes toward digital assets, as the SEC demonstrates increased openness to cryptocurrency-based financial products. NYSE emphasized in its filing that the proposed rule change is designed to prevent fraudulent and manipulative practices, with shares listed and traded according to established exchange criteria. The approval process will now move through standard SEC review procedures, with public comment periods and regulatory evaluation determining the ETF's ultimate fate.
