Truth Social Files For Dual Bitcoin and Ethereum ETF

• Trump’s Truth Social filed for a dual Bitcoin and Ethereum ETF backed by Crypto.com assets.
• The new ETF aims to list on NYSE Arca but lacks a finalized ticker or cash custodian.
• Truth Social also received SEC approval for a $2.3B Bitcoin treasury registration deal.

Trump Media’s Truth Social is expanding its presence in the crypto industry. The company has filed for a dual crypto ETF, aiming to enter the growing digital asset space. The filing came just days after the company secured regulatory approval for a Bitcoin treasury deal.

On Monday, Truth Social submitted an S-1 form to the U.S. Securities and Exchange Commission (SEC). The filing seeks permission to launch a dual-spot Bitcoin and Ethereum exchange-traded fund. The ETF will be named the Truth Social Bitcoin and Ethereum ETF. It is sponsored by Yorkville America Digital, an asset management firm.

Truth Social plans to list the ETF on the New York Stock Exchange’s Arca platform. The firm has not disclosed the fund’s ticker. The ETF shares will be backed by Bitcoin and Ether, with Crypto.com serving as the custodian. Truth Social has yet to confirm the cash custodian for the fund. It also plans to file an amendment with additional fund terms. The company stated it will soon outline a summary of the execution agreement with Crypto.com. That agreement is still under review.

This filing marks Truth Social’s second crypto ETF proposal in less than two weeks. The first involved a Bitcoin-only product. If approved, the dual ETF would join a market already occupied by giants like BlackRock. BlackRock’s iShares Bitcoin ETF currently manages over $72.5 billion.

Related: SEC Approves Trump Media’s $2.3B Bitcoin Treasury Filing

The latest ETF filing follows Friday’s SEC approval of Trump Media’s $2.3 billion Bitcoin treasury registration. That deal allows the company to hold Bitcoin as a treasury asset. Trump Media confirmed a $2.5 billion capital raise in May to fund Bitcoin purchases.

In the new filing, Truth Social stated there are no immediate plans to issue securities under the approved treasury registration. The filing does not disclose proposed fees. Trump Media has also withheld fee details for its earlier Bitcoin-only ETF. Most similar crypto ETFs charge an annual fee of around 0.12%. Market watchers await Truth Social’s updates on pricing and structure.

With this move, Truth Social aims to provide investors with exposure to Bitcoin and Ethereum without requiring direct asset ownership. The proposal signals Trump Media’s growing focus on crypto finance. 

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