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Stocks rose on Wall Street on Thursday, brushing aside fresh

Attendees walk through an exposition hall at AWS re:Invent, a

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Stocks rose on Wall Street on Thursday, brushing aside fresh worries over US President Donald Trump’s latest round of tariffs that kicked in on dozens of countries. The S&P 500

New data for jobless benefits shows that the number of American citizens filing for unemployment benefits rose modestly last week, showing that employers are still retaining workers despite looming uncertainty

Attendees walk through an exposition hall at AWS re:Invent, a conference hosted by Amazon Web Services, in Las Vegas on Dec. 3, 2024. Noah Berger | Getty Images Amazon Web

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Trump Truth Social step toward bitcoin ETF launch with new NYSE filing

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President Donald Trump’s Truth Social platform moved a step closer to having a bitcoin exchange-traded fund available to everyday investors.

NYSE Arca, the all-electronic arm of the New York Stock Exchange that handles most ETF trading, filed on Tuesday to list a bitcoin fund linked to the president’s media company, the latest sign of Trump’s expanding push into the crypto world. Known as a 19b-4 form, the filing is required before regulators can decide whether to allow the fund to launch and trade on a U.S. exchange.

Called the Truth Social Bitcoin ETF, the fund is designed to track the price of bitcoin and offer a simpler way for investors to gain exposure without holding the asset directly. The filing follows an announced partnership between Trump Media and Crypto.com in March to bring a suite of digital asset products to market later this year, pending regulatory approval.

Those planned offerings include baskets of cryptocurrencies, such as bitcoin and Crypto.com’s native Cronos token, combined with traditional securities. The products will be branded under Trump Media and made available to global investors through major brokerage platforms and the Crypto.com app, which serves more than 140 million users worldwide.

Since the January 2024 launch of spot bitcoin ETFs, the market has swelled to more than $130 billion in total assets. BlackRock‘s iShares Bitcoin Trust (IBIT) accounts for the lion’s share, with nearly $69 billion in assets, making it the largest digital asset manager in the world.

Trump is the majority owner of Truth Social’s parent company, Trump Media & Technology Group, which has made a series of crypto-aligned moves in recent months — from trademarking digital asset products to unveiling a $2.5 billion bitcoin treasury plan last week in Las Vegas. If approved, the ETF would represent one of the most politically connected entries into the booming market for bitcoin funds.

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

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



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