The United States Securities and Exchange Commission (SEC) has accepted Trump Media ' s application for the Bitcoin and the ETF to initiate the agency ' s timer to approve or reject the proposed fund.

According to the document, the ETF plans to provide investors with investment opportunities in bitcoin and the Etherbot through shares listed in Arca on the New York Stock Exchange, 75 per cent of which will be allocated to bitcoin and 25 per cent to the Etherbot. Foris DAX Trust, operated by Cripto.com, will act as trustee, while Yorkville American Digital Asset Management will act as sponsor of the fund.

At the same time, with the influx of other encrypted ETF applications, it is reported that the SEC is exploring a way to simplify the encrypted ETF listing structure, which will automate most of the approval process.

Truth Social encrypted ETF tracking bitcoin and Ether.

Truth Social submitted that its ETF net asset value would be assessed on a daily basis, with bitcoin partially based on the CME CF bitcoin reference rate, calculated by combining transaction data from several major encrypted currency exchanges. In the Fund, the Ether Workshop is assessed using the Taipei CME CF reference rate “unless the sponsor decides otherwise”.

According to the document, the encrypted money trustee will also keep the Fund ' s bitcoin and the Ethera in a separate account outside its customer base and store the private key in a cold wallet.

For the first time, on 16 June, True submitted to the SEC a S-1 form involving two encrypted currencies.

Fuda Solana ETF is again delayed

At the same time, the SEC postponed its decision on the real Solana ETF submitted by Fuda, reopening the public comment window, requesting a response within 21 days and a rebuttal within 35 days.

In a document dated 25 March, the United States Stock Exchange, Cboe BZX, requested permission for the first time to list a proposed FTF with Solana.

In an X post on Monday, Bloomberg ETF analyst James Seyffart stated that “it was postponed as expected”. He added: “We are still awaiting some kind of action by the SEC against the general digital asset ETP framework.”

SEC's positive against encrypted ETP Elephant.

In another Monday X post, Seyffart referred to the reported requirement of the SEC for SOL spot ETF issuers to modify and resubmit pre-end-of-month applications, which was another positive sign of the “SEC operation”, which bodes well for the possibility of trading products from a potential new encryption exchange. “Remember that this is only more amendment and communication, not approval, as I see some hints. Essentially any interaction with the SEC and the issuer/exchange should be considered positive.”