Truth Social Files S-1 for Dual Bitcoin and Ethereum ETF
Truth Social, the social media platform linked to former U.S. President Donald Trump, has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for a dual exchange-traded fund (ETF) tracking Bitcoin and Ethereum. The proposed fund would provide investors simplified exposure to these leading cryptocurrencies through assets custodied by Crypto.com.
Secure Crypto-Backed Structure
The Truth Social Bitcoin and Ethereum ETF will derive its value from BTC and ETH held by licensed custodian Crypto.com. This structure offers investors participation in crypto markets while avoiding the technical challenges of direct digital asset ownership.
Planned NYSE Arca Listing
According to regulatory filings, the ETF shares are designated for listing on the New York Stock Exchange Arca (NYSE Arca). Final details including the fund’s ticker symbol and cash management partners remain pending.
Follows SEC-Approved Bitcoin Treasury Plan
This ETF filing comes days after the SEC approved Trump Media and Technology Group‘s $2.3 billion Bitcoin treasury strategy. The company currently has no plans to issue securities under this arrangement.
Competitive ETF Landscape
On the same filing date, CoinShares submitted paperwork for a Solana (SOL) spot ETF. Market analysts suggest the SEC may take a cautious approach to approving additional crypto ETFs beyond Bitcoin products.
Key Details
- Dual Bitcoin and Ethereum ETF proposed by Truth Social
- Digital assets custodied by Crypto.com
- Planned listing on NYSE Arca
- Follows approved $2.3B Bitcoin treasury strategy
- CoinShares files competing Solana ETF application
