Trump Media and Technology Group, the company behind the Truth Social platform, has filed for a new cryptocurrency exchange-traded fund (ETF) called the Truth Social Bitcoin and Ethereum ETF.
ETF Overview
The ETF will invest 75% in Bitcoin and 25% in Ethereum, allowing investors to gain exposure to these cryptocurrencies without having to buy or store them.
Fund Management and Services
The fund will be managed by Yorkville America Digital, which will oversee the fund and its operations. Crypto.com will provide key services such as asset custody, trading execution, staking, and liquidity management.
Application Status
The launch of the fund is pending approval from the SEC for both the S-1 registration statement and a Form 19b-4 filing. Until that approval is granted, ETF shares cannot be sold.
The launch of the Truth Social Bitcoin and Ethereum ETF could provide investors with a new way to access cryptocurrencies, but its implementation is contingent on regulatory decisions.
