The US Securities and Exchange Commission (SEC) has accepted Trump Media's application for a Bitcoin and Ethereum exchange-traded fund (ETF), marking a critical step in the regulatory process for this proposed fund. The Truth Social ETF aims to provide investors with exposure to Bitcoin and Ether through shares listed on NYSE Arca, with allocations of 75% to Bitcoin and 25% to Ether. Foris DAX Trust Company, operating as Crypto.com, will serve as the custodian for the fund. The pricing will rely on the CME CF Bitcoin and Ether reference rates for daily valuation. With this acknowledgment, the SEC now has a timeline to decide whether to approve or reject the ETF proposal, amidst a surge of similar applications in the market.

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