Trump Media & Technology Group’s platform Truth Social has filed for a dual-crypto exchange-traded fund (ETF) through the New York Stock Exchange (NYSE) Arca. The proposed investment vehicle will track both Bitcoin and Ethereum prices, signaling a significant step in the company’s growing crypto ambitions.
NYSE Arca Submits 19b-4 Filing to the SEC
According to a Form 19b-4 filed on Tuesday with the U.S. Securities and Exchange Commission (SEC), NYSE Arca is seeking approval to list and trade the Truth Social Bitcoin and Ethereum ETF. This form represents the second phase in the SEC’s two-step ETF approval process, following the initial ETF prospectus submission last week.
The ETF is described as a passive investment fund aiming to mirror the performance of Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization. The initial portfolio ratio is expected to be a 3:1 weighting of Bitcoin to Ethereum by value, providing broader crypto exposure within a single financial product.
Key Players: Yorkville America Digital and Foris DAX Trust
The filing reveals that Yorkville America Digital will sponsor the ETF, while digital asset custody will be managed by Foris DAX Trust Company. These choices reflect a focus on institutional-grade infrastructure and regulatory compliance for secure crypto asset management.
Trump Media Expands Crypto Strategy with More ETF Plans
This new dual-crypto ETF isn’t the only initiative on the table. Earlier in June, Trump Media also filed for a separate ETF that would be exclusively focused on Bitcoin. These filings align with the company’s broader strategic push into crypto finance. In recent weeks, Trump Media announced a $2.32 billion private placement deal and revealed plans to repurchase up to $400 million in company stock—moves it says will support the establishment of a Bitcoin treasury.
Also Read: Trump to End Bank Crackdown on Crypto — Executive Order to Reverse ‘Chokepoint 2.0
If approved, the Truth Social Bitcoin and Ethereum ETF could mark a turning point in the mainstreaming of digital asset investment, especially from politically connected entities. It also adds to the momentum around spot crypto ETFs following previous industry approvals earlier this year.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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