The SEC has acknowledged Truth Social’s filing for a combined Bitcoin and Ethereum ETF on Monday, as per an official notice from the commission. The filing was made by NYSE Arca on June 24, with the notice listing the provisions for how the ETF will be structured.
The shares will be listed under a trust. The sponsor of the trust is Yorkville America Digital, and the custodian for the cryptocurrency in the trust will be Foris DAX Trust Company, LLC, the company responsible for managing crypto.com. The assets in the trust will comprise 75% bitcoin and 25% ether.
“Each Share issued by the Trust represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist primarily of bitcoin and ether held by the Bitcoin and Ether Custodian on behalf of the Trust,” read the notice by the SEC.
Trump Media & Technology—the parent company of Truth Social— also debuted a global streaming platform called Truth+ on July 7, adding on to its existing portfolio of businesses, which is mostly focused on cryptocurrency, fintech, and media.
Several crypto ETFs are currently under review by the SEC from companies such as Bitwise, 21 Shares, Franklin Templeton, WisdomTree, and Grayscale.