Bagcoin Bag (ETF) Fund (BTC) Heat adds a new chapter. Truth Social is a platform owned by Trump Media & Technology Group (TMTG), a company founded by US President Donald Trump, and has requested permission to launch ETFs in cash based on digital currency.
Truth Social presented the 19B-4 Form 19B-4 on Tuesday, prior to the Securities and Exchange Commission (SEC) through NYSE Arca.
This form required in Rule 19b-4 of the Bolsa Act of 1934; Detail the characteristics of the fund, including its structure, purpose, and operating rules.allowing the SEC to assess whether it is compliant with regulations to protect investors and ensure market stability.
Approval of the form is an important step so that the ETF can cite and work. In this case, the background sponsored by Yorkville America Digital, LLC and sponsored by Foris Dax Trust Company, LLC as Custodian, is trying to replicate the behavior of Bitcoin price.
The document does not specify any commissions or tickets, but the S-1 form is expected to provide details on the fund’s financial and operational details.
In the US market, there are 11 ETFs from Bitcoin in cash, and since January 2024, encryption at the time has been reported to be operating. So far, the ETF has 1,206,265 BTC, worth around $1270 million at its current price.
To seconds Now face a decision to approve or reject a request for social trutha move that can further integrate the existence of Bitcoin in traditional markets.
