NYSE Arca has submitted a Kind 19b-4 submitting to the US Securities and Alternate Fee (SEC) looking for approval to checklist the Reality Social Bitcoin ETF, a spot Bitcoin exchange-traded fund (ETF) related to Trump Media & Expertise Group (TMTG).
The transfer represents TMTG’s newest foray into the cryptocurrency sector, aligning with President Donald Trump’s pro-crypto stance.
The proposed ETF goals to supply buyers with direct publicity to Bitcoin’s (BTC) value actions with out the complexities of proudly owning the cryptocurrency outright. The fund is designed to simplify funding in Bitcoin by eliminating operational hurdles related to direct possession.
TMTG utilized to trademark a number of funding merchandise beneath its Reality.Fi model earlier this yr, together with the Reality.Fi Bitcoin Plus ETF, Reality.Fi Made in America ETF, and Reality.Fi US Vitality Independence ETF.
These initiatives replicate TMTG’s broader technique to develop its monetary providers choices and capitalize on the rising curiosity in cryptocurrency investments.
The submitting follows TMTG’s Could announcement relating to plans to elevate roughly $3 billion to ascertain a Bitcoin treasury reserve, positioning the corporate as a major participant within the cryptocurrency house.
The transfer aligns TMTG with different firms which have built-in Bitcoin into their monetary methods following Technique’s success in pioneering adoption.
For the reason that SEC accepted the primary spot Bitcoin ETFs in January 2024, these funding automobiles have attracted substantial inflows, with BlackRock’s iShares Bitcoin Belief (IBIT) alone amassing over $71 billion in belongings beneath administration.
The rising reputation of spot Bitcoin ETFs signifies the rising demand for regulated cryptocurrency funding choices.
The SEC’s evaluate course of for the Reality Social Bitcoin ETF will embody a public remark interval and a number of analysis levels, with a closing resolution anticipated within the coming months.
As of press time Bitcoin was buying and selling at roughly $105,445, reflecting a year-to-date improve of roughly 12%.
