Trump-backed Crypto ETF moves closer to approval, aiming to raise $2.5 billion

From Yahoo Finance: 2025-06-25 17:15:00

A crypto ETF backed by Trump Media and Technology Group Corp. is one step closer to creation as the NYSE seeks SEC permission to change a rule for listing the fund. Trump Media also filed for a combined Bitcoin and Ethereum ETF, aiming to raise $2.5 billion from institutional investors.

President Trump’s support for the crypto industry, along with key industry supporters in his administration, has led to the proposed creation of a Bitcoin and Ethereum ETF. This move comes amid price jumps in both Bitcoin and Ether, with Trump positioning himself as the “crypto president” and advocating for a U.S. Bitcoin reserve.

The proposed ETF would hold a three-to-one ratio of Bitcoin to Ether and function similarly to spot Bitcoin and Ether ETFs. Investors have poured billions into spot Bitcoin ETFs, making iShares Bitcoin Trust the fastest-growing ETF. Bitcoin has seen a 15% increase this year, outperforming the S&P 500.

The iShares Ethereum Trust has experienced a 27% drop this year but still attracts net inflows of $1.8 billion. Trump Media, controlled 52% by a trust owned by President Trump, is making significant moves in the cryptocurrency space with the proposed ETFs.



Read more at Yahoo Finance: Trump Crypto ETF Moves One Step Closer to Approval