Truth Social, the social platform linked to Donald Trump, has filed for a crypto ETF focused on leading cryptocurrencies. This move may signal a new direction for the company in the crypto industry.
Application for ETF by Truth Social
According to Bloomberg ETF analyst Eric Balchunas, Truth Social has submitted an application to the U.S. Securities and Exchange Commission for a fund called 'Truth Social Crypto Blue Chip ETF.'
Fund Structure
The proposed fund will include a curated basket of leading cryptocurrencies such as Bitcoin, Ethereum, Solana, XRP, and Cronos. Initial allocation plans suggest that Bitcoin will comprise 70% of the portfolio, Ethereum will account for 15%, while Solana, Cronos, and XRP will make up 8%, 5%, and 2% respectively.
Significance for the Crypto Industry
If approved, the ETF would mark a significant move into crypto by a high-profile media company and could signal broader mainstream ambitions tied to the Truth Social brand.
The submission of the ETF proposal represents an important step for Truth Social toward the crypto industry and opens opportunities for further development and engagement from a broader audience.
