Trump Media and Technology Group files Bitcoin and Ethereum ETF application with SEC

As reported by FXStreet, BTC jumped 3.7% on Monday following news that Trump Media and Technology Group filed an application with the US Securities and Exchange Commission (SEC) to launch a dual Bitcoin and Ethereum exchange-traded fund (ETF).

According to the website, this ETF will track the price movements of the two leading cryptocurrencies, though not in equal amounts. The initial ratio will be set at 3:1, with potential for future adjustments. Yorkville America Digital will sponsor the fund, with Foris DAX Trust Company serving as the custodian for the holdings.

Meanwhile, CoinShares reported a significant influx of funds into Bitcoin ETFs. Last week, inflows reached $1.3 billion, snapping a two-week streak of outflows. At the same time, Ethereum ETFs attracted $583 million, marking their strongest performance since February.

Investment firm Strategy expanded its cryptocurrency reserves by purchasing 10,100 BTC for $1.05 billion. According to FXStreet, the company now holds a total of 592,100 BTC, worth approximately $61.47 billion at current prices.