☄️ Truth Social, Trump's company, withdraws Bitcoin Spot ETF application 🟢 According to Bloomberg ETF analyst James Seyffart, Truth Social has withdrawn its application for a Bitcoin Spot ETF. 🟢 The reason may be that the Bitcoin Spot ETF market is too competitive, with many major players entering with very low fees. 🟢 For example, Morgan Stanley recently launched its MSBT product with a fee of only 0.14%, making competition even harder. 🟢 Therefore, Truth Social may no longer want to create an ETF that only holds Bitcoin. Instead, they may switch to a more flexible crypto ETF that can invest in a variety of other crypto assets. 🟢 This new ETF could be designed under the Investment Companies Act of 1940, a more familiar legal framework for investment funds in the US. $BTC $ETH $SOL #BTC #USTreasuryHits19YrHigh #TradeAIStocksOnOKX #CFTCDefendsPredMarkets