Trump Media to launch bitcoin and ethereum ETF, pending SEC approval
'It will be a challenge for any new entrant in this market,' said Bryan Armour, ETF analyst at Morningstar. 'The only way to stand out will be through fees or brand.'
The filing for the new bitcoin and ethereum ETF does not disclose proposed fees, and Trump Media has yet to reveal fees for the bitcoin ETF. Similar products have fees of 0.12%.
Trump Media representatives did not immediately respond to a request for comment. Armor noted that the latest filing spells out a specific allocation ratio between bitcoin and ethereum. The issuer, Yorkville America Digital, said it initially anticipates holding three bitcoins for every ethereum token in the ETF.
'There is little that is different about this new venture other than the way it could be marketed,' said Sui Chung, CEO and chairman of CF Benchmarks. 'Given Truth Social's involvement, it may very well be that (these) are marketed directly to individual investors and that this ends up getting attention from those investors in the same way that people who love their iPhones buy Apple stock.'
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