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Trump Media Seeks Approval For Dual Crypto ETF Focused On Bitcoin And Ethereum

by admin June 17, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Trump Media & Technology Group (TMTG) has filed with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that will invest in both Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies.

This filing, reported by Reuters, marks the second exchange-traded fund proposal from the company in less than two weeks, indicating a strong push into the digital asset market.

New Crypto ETFs From Trump Media

If approved, the proposed Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF would enter a crowded market already dominated by established players like BlackRock, whose iShares Bitcoin ETF boasts an impressive $72.5 billion in assets.

Bryan Armour, an ETF analyst at Morningstar, emphasized the hurdles faced by new entrants in this sector. “It will be a challenge for any new entrant in this market,” he noted, adding that the primary ways to stand out will be through competitive fees or strong branding.

Currently, similar exchange-traded funds charge operation fees around 0.12%, but details on the fees for Trump Media’s new offerings for the dual Bitcoin and Ethereum funds remain undisclosed.

Balanced Exposure With Bitcoin And Ethereum Holdings

The latest filing also specifies an allocation strategy between Bitcoin and Ethereum, indicating that the fund will initially hold three Bitcoin for every Ethereum token.

This approach suggests a strategic positioning that could appeal to investors looking for a balanced exposure to both leading cryptocurrencies.

Sui Chung, CEO and chairman of CF Benchmarks, pointed out that the unique aspect of these ETFs may lie in their marketing strategy:

There is little that is different about this new venture other than the way it could be markete. Given Truth Social’s involvement, it may very well be that (these) are marketed directly to individual investors and that this ends up getting attention from those investors in the same way that people who love their iPhones buy Apple stock

The daily chart shows BTC’s price recovery. Source: BTCUSDT on TradingView.com

At the time of writing, Bitcoin is trading at $107,715, marking a 4.1% gain on the monthly timeframe. This comes as the market’s leading cryptocurrency failed once again to gain a foothold above the key $111,000 mark, preventing it from making new all-time highs. Currently, BTC is trading 4% below its record price.

Ethereum, on the other hand, trades at approximately $2,613 per token. It has recorded gains of a little over 5% in the past thirty days and has been one of the best performers for June so far.

Nevertheless, ETH remains well below its record high, which was reached nearly four years ago. There is a 46% gap between the current price and the record high of $4,878.

Featured image from DALL-E, chart from TradingView.com

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June 17, 2025 0 comments

GameFi Guides

XRP ETF Approval Odds Hit 93% on Polymaket Amid BlackRock Rumors

by admin June 4, 2025

The odds of an XRP exchange-traded fund (ETF) receiving approval from the U.S. Securities Exchange and Commission (SEC) have skyrocketed to 93%, as per Polymarket data. The large increase in confidence suggests that many crypto investors and traders are getting more hopeful that there will soon be better understanding of crypto regulations.

Much of this confidence stems from soon-to-be concluded legal disputes between Ripple and the SEC. Now that the uncertainty around XRP’s security status appears to be resolved, people in the market think it’s simpler for an Ripple ETF to be approved. It is thought that the SEC approval will come by the end of 2025.

Crypto index fund manager Bitwise applied for an XRP ETF a little more than eight months ago when the legal status of XRP was still unclear. Since that point, conditions have evolved. However, there are also rumors going on that BlackRock would soon file for a spot XRP ETF, which solidified the community’s hopes towards a speedy approval.

Even so, the SEC still has not made a decision on numerous applications which include those from Grayscale and Franklin Templeton. An SEC review of above-mentioned filings may take up to 240 days, involving the receiving of public reviews and studying market trends.

XRP futures on the CME Group were launched on May 19, 2025 which only added to the positive trend in Ripple. Executive Tim McCourt praised the use of XRP, showing more institutions are paying attention to the asset. Futures trading together with an ETF approval could help XRP break into the main financial markets.

At the time of reporting, XRP price had increased 1.78% to a price of $2.25 compared to the previous 24 hours. With investors expecting changes, everyone’s watching to see what the SEC will do next.

Also Read: Ripple’s XRP Ledger is more than Just XRP: David Schwartz

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June 4, 2025 0 comments

NFT Gaming

MoonPay Grabs Coveted BitLicense Approval In New York

by admin June 4, 2025

MoonPay, a cryptocurrency on-ramp and payments firm with over 20 million users, has been granted a coveted BitLicense and money transmitter license by the New York State Department of Financial Services (NYDFS).

The BitLicense approval completes MoonPay’s U.S. regulatory coverage, complementing money transmission licenses in 46 other U.S. jurisdictions, as well as registrations in the UK, Australia, Canada, Italy, Ireland and Jersey, the company said in a press statement on Wednesday.

Donald Trump’s crypto-friendly administration has made attaining a solid footing in the U.S. all the more desirable for firms as his administration works on federal regulations. The NYDFS BitLicense approval is widely recognized as a gold standard in the crypto industry.

The NYDFS approval comes on the heels of MoonPay opening a new headquarters in New York City, which the company said is now its largest U.S. office.

“As a U.S.-founded company with a headquarters in New York City, we’re immensely proud of this milestone and look forward to our continued work with regulators nationwide to make crypto accessible to everyone,” said MoonPay co-founder and CEO Ivan Soto-Wright in a statement.

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June 4, 2025 0 comments

Crypto Trends

XRP ETF Approval Odds Hit 93% on Polymarket: Details

by admin June 4, 2025

There is growing optimism that the United States Securities and Exchange Commission (SEC) will approve pending filings for an XRP exchange-traded fund (ETF). According to Polymarket data, the possibility of the regulatory body approving has soared into the 90% zone.

Legal clarity fueling Polymarket traders’ confidence

Notably, stakeholders believe that the XRP ETF has a 93% chance of approval despite the SEC’s long delays. XRP investors and market participants remain confident that the regulatory body will shift ground before the end of 2025.

XRP ETF Approval Chart | Source: Polymarket

CME XRP futures’ launch adds to bullish sentiment

Ripple Expands Middle East Presence as RLUSD Gains Approval in Dubai

by admin June 4, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ripple has received regulatory approval to introduce its US dollar-backed stablecoin, RLUSD, into the Dubai International Financial Centre (DIFC). The approval came from the Dubai Financial Services Authority (DFSA), which oversees activities within the special economic zone.

This development marks a new phase in Ripple’s strategy to expand its digital asset infrastructure across the Middle East. The DFSA’s green light allows RLUSD to operate as a payment rail within Ripple’s existing DFSA-licensed digital asset platform.

This integration could open the door for over 7,000 companies operating in the DIFC to use the stablecoin for cross-border transactions, digital asset settlements, and related services.

Ripple has previously established a footprint in the region, having secured regulatory approval to serve clients in the United Arab Emirates’ (UAE) $40 billion cross-border payments market.

Institutional Demand and Strategic Partnerships Fuel Growth

Ripple’s move into the DIFC follows a broader trend of increased institutional interest in digital assets across the Gulf region. According to Reece Merrick, Managing Director for the Middle East and Africa, the company has observed rising demand for crypto-enabled payment and custody solutions.

The RLUSD approval is seen as a step toward enabling this demand through licensed, regulated infrastructure. Jack McDonald, Ripple’s Senior Vice President for stablecoins, said that the DFSA’s decision aligns with the company’s focus on supporting regulated financial innovation in Dubai.

To build out its local ecosystem, Ripple is actively working with various regional entities. It has formed partnerships with Zand, a digital bank based in the UAE, and Mamo, a fintech company.

These organizations are expected to be among the early adopters of Ripple’s payment tools powered by RLUSD. Furthermore, Ripple is engaging with Ctrl Alt, a digital infrastructure firm, and the Dubai Land Department in an initiative to tokenize real estate deeds on the XRP Ledger, aimed at creating digitized property ownership frameworks backed by blockchain.

RLUSD Expands Beyond the US Market

Launched in December 2024, RLUSD is fully backed by US dollar reserves and was initially approved by the New York Department of Financial Services. The stablecoin began trading on platforms such as Uphold and has since expanded to other exchanges, including Kraken.

RLUSD currently holds a market capitalization of over $300 million, placing it within a global stablecoin market that is dominated by larger players like Tether’s USDT and Circle’s USDC, which together account for the majority of the sector’s $250 billion total market value.

The integration of RLUSD into Dubai’s financial landscape could present Ripple with new use cases beyond its original remittance-focused model. The DIFC has positioned itself as a forward-looking regulatory hub for fintech and digital assets, providing a controlled environment for blockchain-based innovation.

With this approval, Ripple joins other companies leveraging the region’s legal clarity to offer services tied to digital currencies. As stablecoins gain traction globally for settlement and treasury use, regulated regional integrations such as this could help Ripple compete in a rapidly evolving financial infrastructure landscape.

XRP price is moving upwards on the 2-hour chart. Source: XRP/USDT on TradingView.com

Featured image created with DALL-E, Chart from TradingView

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June 4, 2025 0 comments

NFT Gaming

Ripple USD (RLUSD) Gets Key Approval in Dubai

by admin June 3, 2025

Enterprise blockchain company Ripple has announced that its RLUSD stablecoin has been approved by the Dubai Financial Services Authority (DFSA).

This means that the token can now be legally used within the Dubai International Financial Centre (DIFC), which is a special economic zone in the megacity that was established back in 2004. There are now more than 7,000 companies operating within the DIFC.

RLUSD, which was launched in December, has been pitched as a highly regulated enterprise-grade stablecoin product. As reported by U.Today, it also obtained approval from the New York State Department of Financial Services (NYDFS) on the cusp of the official launch.

In October, Ripple became the first blockchain service provider to obtain the DFSA license. Following the most recent approval, RLUSD will now be directly integrated into that platform.

The companies operating within the Dubai economic zone will also be able to use the stablecoin.

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June 3, 2025 0 comments

GameFi Guides

XRP, SOL, and ADA Left Waiting as SEC Postpones Bitwise ETF Approval

by admin May 28, 2025

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Bitwise’s attempt to convert its top crypto index fund into an exchange-traded fund.

The Bitwise 10 Crypto Index Fund (BITW), which was originally launched back in November 2017, tracks the biggest cryptocurrencies by market capitalization.

The fund currently boasts $1.44 billion in assets under management (AUM).

Bitcoin (BTC) accounts for 77% of the fund based on the sheer size of its market cap. Ethereum (ETH) comes in a distant second place with nearly 12%.

The fund also offers exposure to more arcane altcoins such as XRP, Solana (SOL), and Cardano (ADA).