Trump Media and Technology Group Corp. on Thursday said it had filed a registration statement for an exchange-traded fund that would directly hold bitcoin — the latest move into cryptocurrency by those in Trump’s orbit as his administration tries to deregulate the industry.

Bitcoin and other cryptocurrencies edged higher Wednesday as traders weighed up a number of potential catalysts, including the possibility of a new Truth Social ETF.Bitcoin traded up 0.6% over the last 24 hours to $105,

Trump Media and Technology (DJT) took a key step toward launching a publicly traded crypto investment product Thursday morning. The newly formed Truth Social Bitcoin ETF business trust filed its S-1 with the US Securities and Exchange Commission to register the new exchange-traded fund licensing Trump Media's social media brand.