The social media platform "Truth Social" operated by Trump Media & Technology Group, owned by President Trump, has filed for the listing of an ETF linked to the prices of Bitcoin and Ethereum. The Form S-1 document submitted on Monday revealed that this will be the company's second cryptocurrency ETF application.
The fund named "Truth Social Bitcoin and Ethereum ETF, B.T." plans to allocate about three-quarters of its assets to Bitcoin (BTC). The management company Yorkville America Digital LLC indicated in the prospectus that it may later change this 3-to-1 ratio "at its discretion."
According to SEC records, Truth Social has become the third issuer to apply for a mixed product of Bitcoin and Ethereum. Bitwise and Hashdex have already applied for similar products, and Volatility Shares and ProShares have also filed for similar products linked to the futures market.
The company also submitted an application for a Bitcoin-only ETF on June 4, and is advancing its business through the "Truth.Fi" brand in partnership with the cryptocurrency exchange Crypto.com and the asset management company Yorkville America Digital.
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President Trump's Truth Social has applied for a mixed ETF of Bitcoin and Ethereum.
The social media platform "Truth Social" operated by Trump Media & Technology Group, owned by President Trump, has filed for the listing of an ETF linked to the prices of Bitcoin and Ethereum. The Form S-1 document submitted on Monday revealed that this will be the company's second cryptocurrency ETF application.
The fund named "Truth Social Bitcoin and Ethereum ETF, B.T." plans to allocate about three-quarters of its assets to Bitcoin (BTC). The management company Yorkville America Digital LLC indicated in the prospectus that it may later change this 3-to-1 ratio "at its discretion."
According to SEC records, Truth Social has become the third issuer to apply for a mixed product of Bitcoin and Ethereum. Bitwise and Hashdex have already applied for similar products, and Volatility Shares and ProShares have also filed for similar products linked to the futures market.
The company also submitted an application for a Bitcoin-only ETF on June 4, and is advancing its business through the "Truth.Fi" brand in partnership with the cryptocurrency exchange Crypto.com and the asset management company Yorkville America Digital.