Trump Media Technology Group to launch cryptocurrency ETF.

The Trump Media Technology Group announced on Thursday that its Truth Social Bitcoin ETF will directly hold Bitcoin, aiming to provide investors with stocks that reflect Bitcoin price performance. According to documents filed with the U.S. Securities and Exchange Commission, Crypto.com will serve as the exclusive Bitcoin custodian, primary executing agent, and liquidity provider for the ETF. The Trump Media Technology Group, which operates Truth Social, owned by Trump, announced last month that it plans to raise about $2.5 billion from institutional investors to purchase Bitcoin and plans to use this funds to create a treasury for the cryptocurrency. The CEO of the Trump Media Technology Group, Nunes, said at the time, "We see Bitcoin as the ultimate tool for financial freedom, and now Trump Media will use cryptocurrency as an important part of our assets."