the Truth Social platform, backed by President Donald Trump, is nearing the launch of a bitcoin exchange-traded fund (ETF) for retail investors.

NYSE Arca, the New York Stock Exchange’s electronic trading platform for ETFs, submitted a filing on Tuesday to list a bitcoin fund connected to President Donald Trump’s media enterprise. This development underscores Trump’s growing involvement in the crypto space. The 19b-4 form is a prerequisite for regulatory review before the fund can be approved for trading on a U.S. exchange.

The proposed Truth Social Bitcoin ETF aims to mirror bitcoin’s price movements, providing investors with a simplified method to gain exposure without direct ownership of the digital asset. This initiative follows a previously announced collaboration between Trump Media and Crypto.com in March, with the goal of introducing a range of digital asset products later this year, pending regulatory clearance.

The planned offerings include diversified cryptocurrency portfolios,incorporating bitcoin and Crypto.com’s Cronos token, alongside conventional securities. These products will be marketed under the Trump Media brand and accessible to global investors through major brokerage platforms and the Crypto.com app,which boasts over 140 million users globally.

as the introduction of spot bitcoin ETFs in January 2024, the market has expanded to exceed $130 billion in total assets. BlackRock‘s iShares Bitcoin Trust holds the largest share, with approximately $69 billion in assets, solidifying its position as the world’s leading digital asset manager.

Trump, as the majority owner of truth Social’s parent company, Trump Media & Technology Group, has recently made several crypto-related moves, including trademarking digital asset products and revealing a $2.5 billion bitcoin treasury plan in Las Vegas. If approved, the ETF would be a politically meaningful addition to the growing bitcoin fund market.

WATCH: SEC Commissioner Peirce on dropping Binance case: We’re writing the rules first, then enforcing

What is a Bitcoin ETF?

A Bitcoin ETF is an exchange-traded fund that tracks the price of bitcoin, allowing investors to gain exposure to the cryptocurrency without directly owning it. These funds are traded on stock exchanges, making them accessible to a wider range of investors.

Since the January 2024 launch of spot bitcoin ETFs, the market has swelled to more than $130 billion in total assets.