(Reuters) -NYSE Arca on Tuesday submitted a filing to the U.S. markets regulator seeking regulatory approval to list the Truth Social Bitcoin ETF.
Spot bitcoin ETFs have gained popularity since their January 2024 debut, drawing billions in inflows as investors seek regulated, liquid exposure to the cryptocurrency.
In February, the Trump Media and Technology Group applied to trademark six investment products that track bitcoin and the U.S. manufacturing and energy sectors.
U.S. President Donald Trump is the majority owner of TMTG, which runs the social media platform Truth Social.
The filing, known as a Form 19b-4, is a requirement that organizations such as stock exchanges submit to the U.S. Securities and Exchange Commission to propose a rule change or to list a new product. It’s a key procedural step before an exchange can begin listing and trading a new fund or instrument.
The fund will seek to reflect the performance of bitcoin and has been “designed to remove the obstacles represented by the complexities and operational burdens involved in a direct investment in bitcoin.”
Bitcoin has gained 12.7% so far this year and is trading above $105,000.
(Reporting by Manya Saini in Bengaluru; Editing by Alan Barona)
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