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.

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.