A company that is supported by the President of the United States has submitted to the US Securities and Exchange Commission (SEC) for a joint Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF).
According to a new S-1 application at the SEC, President Trump’s Truth Social, a social media network, has that submitted For a new BTC/ETH ETF.
Submit the submission,
“The goal of the trust is to transfer Bitcoin and Ether to the trust in exchange for shares published by the trust. Each share represents a fractionally undivided favorable interest in the net assets of the Trust.
The trust’s assets mainly consist of Bitcoin and Ether in the hands of the Bitcoin and Ether Custodian on behalf of the Trust. “
The fund is sponsored by Yorkville America Digital and Crypto Custody will be handled by Foris Dax Trust Company, LLC, that is connected Digital Asset Exchange Crypto.com.
Last month, Trump reportedly made a lobby company Blackball because he would have manipulated him to post about XRP on social media.
At the beginning of March, Trump announced on his social social platform that he dedicated the presidential working group to digital asset markets “to continue with a crypto -strategic reserve that includes XRP, SOL and ADA.”
Policro, with reference to ‘two people who are familiar with the incident’, reported that Trump had placed the position by an employee of the lobby company Ballard Partners. The public employee reportedly “Buttonholt” Trump on Mar-A-Lago and encouraged him several times to publish the post, even to give him the text of a message that she thought the president should write.
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Generated image: dalle3