Trump’s Truth Social files S-1 for dual Bitcoin and Ether ETF

US President Donald Trump’s societal media platform, Truth Social, has officially filed an S-1 signifier with the US Securities and Exchange Commission to motorboat a dual exchange-traded money (ETF) for Bitcoin and Ether.

Filed connected June 16, the S-1 signifier proposes the issuance and trading of Truth Social Bitcoin and Ethereum ETF, sponsored by the plus absorption steadfast Yorkville America Digital.

Details from the rubric leafage of the Truth Social Bitcoin and Ethereum ETF. Source: SEC

The spot seeks to supply investors with vulnerability to some Bitcoin (BTC) and Ether (ETH) by offering shares backed by the crypto assets to region the complexities stemming from nonstop investment.

The shares are backed by BTC and ETH held by the custodian connected behalf of the trust, Foris DAX Trust Company, doing concern arsenic Crypto.com, the prospectus reads.

Ticker and currency custodian to beryllium disclosed

The ETF shares are projected to beryllium listed connected the New York Stock Exchange Arca (NYSE Arca), according to the filing.

While Truth Social has officially determined that Crypto.com volition beryllium its dedicated crypto custody provider, the institution is yet to finalize the details of the upcoming ETF, specified arsenic the fund’s ticker and its currency custodian.

An excerpt from the projected Truth Social Bitcoin and Ethereum ETF. Source: SEC

Truth Social besides mentioned that it plans to record an amendment with a summary of the presumption of the premier execution bureau statement with Crypto.com later.

SEC approves Trump Media’s Bitcoin treasury registration

The filing for the Truth Social Bitcoin and Ethereum ETF follows the support of Trump Media and Technology Group’s $2.3 cardinal Bitcoin treasury deal by the SEC connected June 13.

In the statement, the institution said that it presently has “no contiguous plans” to contented immoderate securities nether the deal.

TMTG antecedently confirmed a $2.5 cardinal superior rise to acquisition Bitcoin successful precocious May aft initially denying reports astir the raise.

Magazine: US risks being ‘front run’ connected Bitcoin reserve by different nations: Samson Mow

This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.