Trump’s Truth Social Files for Crypto Blue Chip ETF Featuring BTC, ETH, XRP, SOL, CRO
Truth Social has filed with the SEC for a crypto ETF that will track five major digital assets including Bitcoin and Ethereum. The fund aims to trade on NYSE Arca if approved.
Truth Social's crypto ETF will allocate 70% to Bitcoin, 15% to Ethereum, and smaller portions to XRP, Solana, and Cronos.
Crypto.com affiliate Foris DAX Inc serves as custodian and liquidity provider for the proposed exchange-traded fund.
Two additional crypto ETF products focusing on Bitcoin and Bitcoin-Ethereum combinations are also seeking regulatory approval.
Truth Social, the social media platform owned by US President Donald Trump through Trump Media & Technology Group (TMTG), has further intensified its crypto investment drive. On Tuesday, July 8, the company filed a Form S-1 with the US Securities and Exchange Commission (SEC) for a Truth Social Crypto Blue Chip ETF.
Trump’s Truth Social S-1 Filing for Crypto Blue Chip ETF | Source: SEC.Gov
If approved, the fund will trade on NYSE Arca, issuing shares in creation units of 10,000. Only cash-based creations and redemptions will be allowed at launch, with in-kind transactions to be considered pending future regulatory clearance.
Truth Social Lists Crypto.com, CME, and CF Benchmarks as Custodian Providers
Foris DAX Inc., a US affiliate of Crypto.com, is listed as both the custodian and liquidity provider for the ETF. CF Benchmarks, a leading crypto index provider, will offer real-time pricing through its CME-based benchmark indices.
In addition to the Blue Chip ETF, Truth Media and Yorkville are seeking SEC approval for two more products: the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF, which will offer more concentrated exposure to BTC and ETH respectively.
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