Bitcoin and Ethereum surged after Truth Social Funds filed a registration statement with the SEC for a new exchange-traded fund that would hold both assets. The proposed "Truth Social Bitcoin and Ether ETF" signals growing mainstream and institutional interest in the two largest cryptocurrencies as a combined investment vehicle.
The filing, made in partnership with Crypto.com, which is slated to provide custody and liquidity services, suggests an expanding infrastructure for regulated crypto investment products. This move for a joint fund further solidifies the narrative of institutional adoption and provides a specific catalyst for today's broad-based rally in the digital asset market.
Market Impact: Bitcoin (BTC) has surged +5.32% since the last session close. Ethereum (ETH) has jumped +7.34% since the last session close.