Sponsored by Sterling Metals

Trump Media Pushes Bitcoin ETF

Regulators received a formal request Tuesday from NYSE Arca to authorize trading of a Bitcoin exchange-traded fund bearing the Truth Social brand of President Donald Trump’s media empire, representing another expansion of Trump-linked ventures into digital currencies.

The Truth Social Bitcoin ETF would offer investors exposure to Bitcoin through traditional stock exchanges, joining a field of similar investment vehicles that have attracted more than $130 billion in assets since federal approval in January 2024.

You can read more on the matter here.

What’s going on?

• Trump’s Trade War Backfires as China’s Rare Earth Leverage Forces US Automakers Toward Chinese Production (theDeepDive)

• Canadian dollar hits 8-month high as BoC remains sidelined (Reuters)

• Silver Catch-Up Time: Why the 7:1 Gold-Silver Ratio Matters [Summa-Silver47 Merger] (theDeepDive)

• Bank of Canada holds key interest rate at 2.75%, cites ‘unusual uncertainty’ (Globe)

• Congress budget office says Trump tax bill could cost $2.4 trillion, less than earlier forecast (Reuters)

• $8,900 Gold? Why Silver and Miners Could Outperform | Ronald-Peter Stöferle (theDeepDive)

• Donald Trump says China’s Xi Jinping is ‘hard to make a deal with’ (FT)

• Britain Unveils Major Defense Overhaul Amid Russian Threats (theDeepDive)

• Canada ‘will take some time’ before responding to higher U.S. steel, aluminum tariffs, Carney says (Globe)

What’s the latest?

• Amazon: Amazon will invest $10 billion in new AI-focused data centers in North Carolina, creating around 500 jobs. This is part of Amazon’s broader $100 billion capital spending plan for 2025, with most funds directed toward AI infrastructure. Earlier this year, Amazon also committed $11 billion to data center expansion in Georgia. The company is aggressively scaling its AI capabilities through in-house technologies and an $8 billion stake in AI startup Anthropic.

• Politics: The Congressional Budget Office estimates that President Trump’s proposed budget bill would add $2.4 trillion to the national debt over the next decade. The bill would reduce federal revenue by $3.7 trillion while cutting spending by $1.3 trillion. Opposition is growing, with GOP senators like Ron Johnson and Rand Paul criticizing it for increasing deficits. Despite internal dissent and pressure from figures like Elon Musk, Trump is pushing for the bill’s passage by July 4 without Democratic support.

• Google: Google Canada has launched a $13 million AI Opportunity Fund to boost AI skills nationwide. The fund will support training through four organizations: Alberta Machine Intelligence Institute, First Nations Technology Council, Skills for Change, and the Toronto Public Library. The initiative aims to upskill students, Indigenous workers, and underserved communities. Google highlighted a projected $230 billion boost to Canada’s economy from generative AI.

• Real Estate: Home sales in the Greater Toronto Area fell 13.3% year-over-year in May, with 6,244 homes sold. New listings rose 14% to 21,819, increasing buyer leverage. The average selling price dropped 4% to $1.12 million, with condos seeing the steepest decline in sales at 25.1%. Consumer confidence remains weak due to U.S. trade uncertainty, though experts say the market is more balanced and may rebound by early 2026.

• Economy: The Bank of Canada kept its benchmark interest rate at 2.75% for the second straight time, citing ongoing uncertainty from U.S. tariffs. Governor Tiff Macklem said the bank is open to rate cuts if trade tensions weaken the economy without reigniting inflation. April inflation dropped to 1.7% due to a tax change, but core inflation rose unexpectedly. Economists expect a potential rate cut in July, depending on jobs data and tariff impacts, with a possible recession looming if trade disputes persist.

Early GOLD Bull Markets w/ Rick Rule

The stock market and stuff

• Truth Social Applies for Bitcoin ETF Listing (theDeepDive)

• Apple and Alibaba’s AI rollout in China delayed by Donald Trump’s trade war (FT)

• Don Jr. Says Trump Went “All-In On Crypto” Because Banks Turned Them Away (theDeepDive)

In the juniors

• Power Metallic Hits 10.99% Copper Equivalent Over 12.54 Metres At Lion Zone (theDeepDive)

• Defense Metals Secures LOI For US$250 Million In Support From Export Development Canada (theDeepDive)

• Nevada King Expands Resource To Over 1 Million Ounces Gold Measured And Indicated (theDeepDive)

• Alphamin Resources Sees Largest Shareholder Sell Stake For 21% Discount (theDeepDive)

FULL DISCLOSURE: Sterling Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Sterling Metals. The author has been compensated to cover Sterling Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.