Truth Social, owned by Trump Media & Technology Group, has announced the launch of a new crypto ETF, increasing interest in XRP and other digital assets.
Truth Social's Strategic Move into Crypto
Truth Social is deepening its engagement in the digital asset space by filing for a new ETF called 'Crypto Blue Chip' with the U.S. Securities and Exchange Commission (SEC). This fund will provide investors with indirect exposure to a selected basket of leading cryptocurrencies.
Key Players Behind the ETF and Its Structure
The ETF will be sponsored by Yorkville America Digital, with Forix DAX Trust serving as the custodian. The fund is expected to trade on the New York Stock Exchange, pending regulatory approval. Its structure includes 70% Bitcoin (BTC), 15% Ethereum (ETH), 8% Solana (SOL), 5% Cronos (CRO), and 2% XRP.
Impact on XRP and the Market at Large
While XRP constitutes just 2% of the ETF's total composition, its inclusion is symbolically significant. This reaffirms the token's position among digital assets that warrant institutional interest. The inclusion of XRP in the Truth Social ETF could expedite its acceptance within traditional financial markets.
The launch of Truth Social's new ETF reflects confidence in the future of blockchain investments and may be a significant step toward broader XRP adoption in financial circles.
