Key Takeaways
- Truth Social filed for a dual Bitcoin and Ether ETF with the SEC.
- Crypto.com will act as the ETF’s crypto asset custodian, though ticker and cash custodian are yet to be finalized.
- The filing follows SEC approval of Trump Media’s $2.3 billion Bitcoin treasury registration.
US President Donald Trump’s social media platform, Truth Social, has submitted an S-1 registration form to the US Securities and Exchange Commission (SEC), seeking approval to launch a dual exchange-traded fund (ETF) for Bitcoin and Ether.
The ETF, named the Truth Social Bitcoin and Ethereum ETF, is sponsored by Yorkville America Digital.
According to the filing, the trust aims to provide investors with exposure to both Bitcoin and Ether through shares backed by these assets, thus “removing the complexities stemming from direct investment.”
The ETF’s underlying Bitcoin and Ether assets will be held by Foris DAX Trust Company, operating as Crypto.com, which has been selected as the dedicated custody provider.
Ticker and cash custodian to be disclosed
The proposed ETF shares are set to be listed on the New York Stock Exchange Arca (NYSE Arca).
However, details such as the fund’s ticker and its cash custodian are yet to be finalized. Truth Social stated it plans to file an amendment with a summary of its prime execution agency agreement with Crypto.com at a later date.
SEC approves Trump Media’s Bitcoin treasury registration
This filing follows the SEC’s approval of Trump Media and Technology Group’s $2.3 billion Bitcoin treasury deal. Despite this approval, the company clarified that it currently has “no immediate plans” to issue securities under the registration.
For further information on Bitcoin ETF holdings and historical data, see the US Bitcoin ETF current and historical holdings page.
