Trump Media’s truth has filed an ETF today after his recent dry request campaign. This product mainly focuses on Bitcoin, including several other assets such as Solana and Cronos.
FNB Altcoin Basket currently exist in legal limbo, as Graycale’s demand recently obtained the approval of the SEC and a non -orthodox socket on trading. The path from Truth Social to regulated exchanges is currently not clear.
Trump’s most recent ETF Altcoin
Truth Social, a key element of President Trump’s Crypto Empire, has prepared ETF’s launch plans for several months now. In early June, Nyse Arca filed a 19B-4 form to launch an ETF Bitcoin under the company brand.
Today’s new deposit adopts more than one basket approach, containing several prominent altcoins in addition to BTC:
According to the DRA file, the new product of Truth Social would mainly be an ETF Bitcoin. 70% of its allowance would go to this asset, 15% at ETH, 8% in soil, 5% in Cronos (CRO) and 2% in XRP. The company recently attempted to create a BTC / ETH spouse ETH, so this Altcoin diversification increases regularly.
At the beginning, it seems a little strange that Cronos occupies such an important position in the ETF, more than the double XRP allowance. Ripple is firmly aligned with the president, and XRP is a much more important token than CRO.
However, the friction between Trump and Ripple has recently germinated, and Truth Social specifically signed an agreement with Crypto.com to promote ETF Altcoin. When we consider these two points, the inclusion of the cronos seems more readable.
In addition, Cro Price jumped more than 15% after the news.
Nevertheless, Truth Social can face a few obstacles to bring another ETF to the Crypto Empire of Trump. Last week, the SEC theoretically approved an ETF Altcoin Basket, but put a stay on the real trading immediately after.
This product now exists in a legal limbo without periods of regular approval, and TRUTH social could be confronted with similar problems.
Meanwhile, the FNB will be structured as a Nevada commercial trust, a legal configuration often used for investment funds. This facilitates FNB management and can help reduce legal and tax complications compared to other types of businesses.
For the moment, this deposit reflects Trump’s commercial interest in the continuous expansion of ETFs. As long as this trend continues, possible approval seems likely.
The SEC has reported its desire to play ball with new products in several ways, even by developing a process of rationalized approval for Altcoin ETF deposits.
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