Trump Media & Technology Group has submitted a registration declaration for the US Securities and Exchange Commission to launch the truth Social Bitcoin and Ethereum Etf, BT
ETF will directly contain bitcoin and ether with an initial allocation of 75% bitcoin and 25% ether. The fund’s shares will be offered investors to track the results of these assets and are expected to act at NYSE ARCA once approved.
Crypto.com has been selected as the exclusive depot, Prime Execution Agent, Staking and Liquidity Provider for ETF. Yorkville America Digital, LLC is the sponsor of the fund.
According to the company’s announcement, “the launch of the truth that Social Bitcoin and Ethereum Etf are presenting the effectiveness of the registration declaration and approval of a form 19B-4 archiving at sec.”
The fund is structured as a Nevada Business Trust. Shares are issued and redeemed in blocks of 10,000 of authorized participants, with cash used for creation and redemption. ETF may be able to offer in-kind transactions in the future pending further regulatory approval.
Trump Media acknowledged, “A statement of registration relating to the shares has been filed with SEC, but has not yet become effective. The shares cannot be sold, nor can it offer to be accepted until the registration statement becomes effective.”
ETF is not registered under the 1940 Investment Companies Act, which typically controls mutual foundations and traditional ETFs by introducing rules for investor protection, information and fund operations. Because ETF has bitcoin and ether directly than securities, it qualifies as a subsidy and is exempt from these requirements.
ETF archiving also reflects Trump Media’s strategy for establishing a presence in the digital asset space beyond social media and streaming. With the development of its Financial Services arm, Truth.fi, the company obviously places itself to compete in the growing digital asset space.
If approved, the Social ETF of truth would give investors a direct, regulated path to both Bitcoin and Ether through a fund. When Trump Media expands its presence in financial services, the move signals a clear intention to compete in space.