Trump Media and Technology Group, the parent firm of Truth Social, has officially filed S-1 registration with the U.S. Securities and Exchange Commission (SEC) to roll out a new cryptocurrency exchange-traded fund (ETF). The ETF is named the Truth Social Crypto Blue Chip ETF.
The ETF will have direct holdings of the following cryptocurrencies: 70% Bitcoin (BTC), 15% Ethereum (ETH), 8% Solana (SOL), 5% Cronos (CRO), and 2% Ripple (XRP). The five cryptos are viewed as big players in the market and are commonly known as “blue chip” assets within the crypto market.
According to the filing, Yorkville America Digital will sponsor the ETF. Crypto.com will serve as the fund’s sole digital asset custodian, trading agent, staking partner, and liquidity provider, providing the storage and execution of crypto assets. After approval, the ETF will be traded on NYSE Arca, a leading ETF exchange.
The ETF’s launch is pending SEC approval. Truth Media must get clearance on its S-1 registration form and also have a Form 19b-4 approved. If everything goes as planned, investors will soon be able to buy shares of the ETF just like a stock, gaining exposure to five leading cryptocurrencies in one move.
In April, the company teamed up with Crypto.com and Yorkville America Digital to launch new ETFs through its financial brand, Truth.Fi. These funds will focus on both U.S. industries like energy and manufacturing and popular cryptocurrencies.
Also Read: Trump Media to Raise $12 Billion, Signaling Major Bitcoin Push
