Analysis: If Trump Media & Technology Group’s BTC and ETH ETFs Are Approved, They Will Compete with Giants Like BlackRock
According to a filing submitted to the U.S. Securities and Exchange Commission on Monday, Trump Media & Technology Group (DJT.O) is seeking to launch an ETF that will invest in Bitcoin and Ethereum, the two largest cryptocurrencies. This marks the second cryptocurrency ETF application submitted by the Trump-affiliated social media company in less than two weeks. If approved, the Truth Social Bitcoin ETF and Truth Social Bitcoin & Ethereum ETF would enter a crowded and highly competitive market already dominated by a handful of well-known asset management firms such as BlackRock, whose iShares Bitcoin ETF holds $72.5 billion in assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Netflix (NFLX.US) reportedly plans to lay off about 5% of its staff: The streaming giant faces growth pressure and trims its workforce ahead of earnings report.
According to reports, Netflix plans to lay off about 5% of its employees as early as next week.
Citi: Besent May "Slash" Long-term Bond Issuance Next Month, 20-year US Treasury Issuance Could Be Directly Canceled
Citi published a research report indicating that US Treasury Secretary Scott Besant is highly likely to reduce the issuance size of long-term US Treasury bonds, and may even completely cancel the issuance of 20-year Treasury bonds.
Rising energy prices intensify inflation concerns; US Treasury yields increase again, with the 10-year rising to 5.25%.
Persistently high energy prices have intensified market concerns about the inflation outlook and reinforced investor expectations of further interest rate hikes by the Federal Reserve. After experiencing significant volatility earlier this week, U.S. Treasury yields are edging back toward recent highs.
Crypto prices
More
