📈Trump’s Media Company Moves to Launch Bitcoin ETF + SEC Considers In-Kind Redemptions for BlackRock’s Bitcoin ETF🚀

Trump’s Media Company Moves to Launch Bitcoin ETF, Strengthening Crypto’s Mainstream Momentum

Trump Media and Technology Group (TMTG) is taking steps to enter the Bitcoin ETF market, signaling a major endorsement of crypto from the former president. The company has filed for trademarks under its new Truth.Fi brand, including the Truth.Fi Bitcoin Plus ETF, with plans to launch this year.

With Bitcoin ETFs already holding over $100 billion in net assets, TMTG’s entry could attract a wave of new investors, especially those aligned with Trump’s America First vision. CEO Devin Nunes emphasized that the company is exploring strategies related to Bitcoin while also focusing on energy and manufacturing investments.

The launch of a Trump-backed Bitcoin ETF adds to the growing legitimacy of crypto within U.S. financial markets, further mainstreaming digital assets at a time of increasing institutional interest.

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SEC Weighs BlackRock Proposal for In-Kind Redemptions in Bitcoin ETF

The U.S. Securities and Exchange Commission is considering a proposal to allow in-kind redemptions for BlackRock’s spot Bitcoin ETF, according to a recent filing. This amendment, submitted by Nasdaq on behalf of BlackRock, would change the iShares Bitcoin Trust’s redemption and creation process.

Previously, the SEC mandated a cash-based model, requiring Bitcoin to be sold before distributing cash to investors. The agency has now opened a 21-day comment period before making a decision. If approved, only authorized participants—not individual investors—would be able to conduct in-kind transactions.

Bernstein: Strategy Set for $12.75 Billion Boost as Bitcoin Accounting Rules Change

Analysts at Bernstein predict that Strategy (formerly MicroStrategy) will see a $12.75 billion uplift to its balance sheet due to new fair-value accounting rules starting in 2025. This change allows the firm to recognize unrealized Bitcoin gains, significantly enhancing its financial position.

Bernstein analysts highlighted that Strategy’s Bitcoin net asset value (NAV) trades at a 110% premium, compared to a historical average of 60%, reflecting strong investor demand. They also noted the company’s long-term leverage target of 20-30%, with room to increase borrowing given its current 15% ratio.

Strategy’s “21/21” plan, aimed at raising $42 billion in capital by 2027, has already deployed $20 billion in equity and debt. Despite concerns over its NAV premium, Bernstein sees the firm’s Bitcoin-centric strategy as a key driver of its valuation and financial growth.

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Gemini Weighs IPO in 2025 as Crypto Firms Push for Public Listings

Gemini, the crypto exchange founded by the Winklevoss twins, is exploring an initial public offering as soon as this year. The company is in discussions with advisers, though no final decision has been made. The move comes as more crypto firms accelerate IPO plans following Donald Trump’s election. Gemini has faced regulatory challenges, including a $5 million settlement with the CFTC and a $1.1 billion repayment to customers linked to the Genesis bankruptcy.