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Truth Social Wants to Launch a Crypto ETF
Truth Social, the media arm linked to President Donald Trump, has officially entered the crypto space with a bold move: launching a dual Bitcoin and Ethereum ETF. The U.S. Securities and Exchange Commission (SEC) has accepted the application, triggering a review period that could result in either approval or rejection of the proposed fund.
75% Bitcoin, 25% Ethereum: A New Kind of Crypto ETF
The Truth Social Crypto ETF, filed under an S-1 form on June 16, aims to provide institutional and retail investors exposure to Bitcoin (BTC) and Ethereum (ETH). According to the filing, 75% of the ETF will be allocated to Bitcoin, while 25% will be allocated to Ether. Shares will be listed on NYSE Arca, one of the leading U.S. exchanges for ETFs.
Foris DAX Trust Company, operating as Crypto.com, will act as the fund’s custodian, while Yorkville America Digital takes on the sponsor role.
To address investor concerns around security, the ETF will hold private keys in cold storage, with separate accounts maintained for customer and fund assets. Pricing will be based on the CME CF reference rates for Bitcoin and Ether, ensuring daily transparency.
Fidelity’s Solana ETF Faces Delay
In contrast, Fidelity’s spot Solana (SOL) ETF has hit another regulatory delay. The SEC opened a new public comment period, pushing a final decision further into the future. Originally filed in March via Cboe BZX Exchange, the Solana ETF’s timeline remains uncertain.
Crypto ETF Wave Continues
With the SEC reportedly considering automated approval structures for crypto ETFs, Truth Social’s bold entry could mark a turning point in mainstream crypto adoption—if approved.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
