Well, here we go again! Truth Social, the social media platform proudly waved around by none other than President Donald Trump, has just filed for a spot Bitcoin (BTC) exchange-traded fund (ETF) with the U.S. SEC. Yep, you read that right. According to a recent SEC filing, Truth Social wants to list and trade shares of its very own Bitcoin ETF on the NYSE Arca Exchange. Who knew, right? 📈
The Truth Social Bitcoin ETF will be managed by the ever-so-reliable Foris DAX Trust Company, LLC. But here’s the kicker: no fun for those who were hoping to play with fancy derivatives. Nope, it’s cash settlements only. So, if you were planning to make a fortune with leverage, think again, my friend.
This move follows Trump’s media empire, Trump Media and Technology Group, raising a cool $2.5 billion. Apparently, they want to use this mountain of cash to create some sort of Bitcoin treasury management plan. Who’s surprised? Trump, cash, and Bitcoin. It’s like a match made in *some* kind of heaven, I guess. 😏
Institutional Investors Can’t Get Enough of Bitcoin – Apparently!
Here’s where it gets interesting (or amusing, depending on how you look at it). The filing aligns perfectly with the crypto agenda of the great man himself, President Trump. And let’s not forget about the Trump Organization and the meme-ified sensation known as the Official Trump Meme ($TRUMP), which have somehow become synonymous with the digital gold rush. Classic Trump, right?
The demand for Bitcoin from institutional investors is apparently *skyrocketing*, and it’s all about inflation hedging and surviving the macroeconomic storm. According to some so-called experts at BitcoinTreasuries, a whopping 223 entities now hold more than 3.39 million BTC as part of their “strategic” treasury management plans. Can you say ‘money grab’? 💰
BTC Price: Is It Ready to Moon or Just Dreaming?
As the good folks over at Coinpedia have pointed out, the rising demand for Bitcoin has sparked some *very* bullish sentiment. The recent weekly rebound from that critical support/resistance level around $104k suggests BTC might be gearing up for a fresh rally. Will it hit a new all-time high? Only time will tell. But one thing’s for sure, the excitement is palpable!
However, let’s not get too carried away just yet. If BTC can’t manage to stay above $103,336 in the coming days, well, we might just have to pack our bags and wait a little longer for that sweet parabolic rally. But hey, who’s counting? 🤷♂️
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2025-06-04 01:52