The US Securities and Exchange Commission (SEC) has officially acknowledged Trump Media's application for a Bitcoin and Ethereum exchange-traded fund (ETF), marking the beginning of the approval decision timeline. The ETF aims to provide investors with exposure to Bitcoin and Ether through shares listed on NYSE Arca, allocating 75% to Bitcoin and 25% to Ether. The fund will be sponsored by Yorkville America Digital and the custodian will be Foris DAX Trust Company, operating as Crypto.com. The net asset value of the ETF will be evaluated daily using designated reference rates for both cryptocurrencies. This application comes amid a surge of crypto ETF filings, with the SEC currently assessing several others, including a proposed Fidelity ETF for Solana, which has faced delays. Analysts suggest that the SEC's interactions with ETF issuers signal potential future approvals for crypto-related investment products.

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