Trump Media and Technology Group officially filed for their second crypto exchange-traded fund, this time focusing on the big dogs: Bitcoin and Ethereum.
The filing’s with the SEC, and if it gets the green light, these ETFs will trade on NYSE Arca, the electronic wing of the New York Stock Exchange that’s all about those ETF moves.
Second
Now, this isn’t some random stunt. Just eight days earlier, Trump Media filed a prospectus with the Connecticut Attorney General through their SPAC partner, Yorkville America. They’re not messing around, let me say this.
The company’s pushing hard to roll out regulated investment products tied to blockchain tech, wanting to give everyday investors a legal, safer way to tap into the crypto market.
Trump Media is gunning to raise $2.4 billion. Their goal? To become one of the biggest corporate holders of Bitcoin out there.
It’s a smart move, diversifying their business, attracting crypto fans, and maybe shaking up the usual Wall Street crowd.
By launching multiple crypto ETFs, they’re hoping to spark serious interest in their stock, making it a hot pick for crypto lovers.
Too much possibilities?
But let’s not kid ourselves, the crypto ETF space is already crowded a little. The real question is, will investors bite?
Success will probably boil down to fees and how these ETFs stack up against what’s already on the market.
If Trump Media’s offerings aren’t competitive, they might just be another face in the crowd.
Meanwhile, Bitcoin’s doing its usual dance. Trading at around $106,000 in the time of writing, it bounced back 3% after a dip to $98,000.
The volatility? Blame the ongoing Israel-Iran conflict heating up over the past days, rattling markets worldwide.
What does the chart says?
Market watcher Mr. Wall Street is still bullish. He’s tossing out price targets on X between $180,000 and $250,000 for Bitcoin this year.
Despite geopolitical chaos, he sees institutional money flowing in, over $20 billion shifted from gold to Bitcoin in just two weeks.
That’s no small potatoes. It’s like the office deciding to ditch the old coffee machine for a fancy espresso maker, everyone’s upgrading to something better.
Mr. Wall Street also flagged that over-the-counter desks are drying up, meaning big moves could be on the horizon.
The hash ribbon indicator flashed good signs, signaling Bitcoin often takes a 10% hit before rocketing 50-125%. He’s convinced the recent dip was that correction, and now the big rally is coming.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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