SEC Officially Begins Review of Trump Media’s Bitcoin and Ethereum ETF Application
The U.S. Securities and Exchange Commission (SEC) officially started the review process for Trump Media’s ETF proposal, designed to give investors exposure to Bitcoin (75%) and Ethereum (25%).
The firm responsible for custody will securely store the assets in cold storage wallets and segregated accounts, prioritizing investor security. The ETF’s daily valuation will be based on separate reference rates for Bitcoin and Ethereum, with Ethereum's reference rate adjustable at the fund sponsor’s discretion.
Meanwhile, SEC’s decision to delay Fidelity’s Solana-focused ETF application has been interpreted as a positive signal, suggesting a warming stance towards crypto ETFs.
