Blue-Chip Crypto ETF Truth Social Files, Including BTC, ETH, XRP, and SOL
Truth Social’s parent business, Trump Media & Technology Group (TMTG), has submitted an S-1 registration statement for a “Blue Chip crypto” exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission.
Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cronos (CRO), the native token of the Cronos blockchain connected to the Crypto.com exchange, will be the principal assets held by the proposed investment trust.According to a July 8 SEC submission, the filing has been acknowledged by the SEC and is currently being reviewed.
In terms of value, the ETF portfolio will continue to consist of roughly 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP.
Although the fund’s ticker symbol is still unknown, the ETF will be listed and traded on NYSE Arca after approval.
Without using leverage, derivatives, or speculative trading techniques, the proposed ETF is anticipated to operate as a passive investment vehicle, tracking the market prices of its underlying cryptocurrencies.
To provide staking incentives, the fund will also engage in staking for assets such as Ethereum, Solana, and Cronos.
Truth Social earlier submitted applications for a Bitcoin and Ethereum combination ETF and a spot Bitcoin ETF in June.
Like similar registration statements, the filing states that Yorkville America Digital is the sponsor of the “Truth Social Crypto Blue Chip ETF” and that Foris DAX Trust Company will act as the custodian for digital assets.
Furthermore, Crypto.com will serve as the sole Bitcoin custodian, prime execution agent, and liquidity supplier for the ETF.
According to earlier speculations, TMTG and Singapore-based Crypto.com are expected to collaborate on introducing “Made-in-America” exchange-traded funds.
A non-binding agreement was reached by the media platform to sell a range of funds (ETFs) and exchange-traded products (ETPs) on the exchange operated by the Cronos blockchain.
The fact that CRO is included in the investable ETFs seems to validate Crypto.com’s participation in the business.
Interestingly, CRO was far more affected by the latest filing announcement than other well-known Truth Social coins.
At a monthly high of $0.09886, the asset jumped more than 20%, whereas Bitcoin, Ethereum, XRP, and Solana only had rises of 1.08% to 3.6% in the same time frame.
TMTG’s Broader Digital Asset Strategy Amid President Trump’s Growing Crypto Fortune
After Truth Social’s parent company confirmed its digital asset strategy, which includes a Bitcoin treasury plan, the SEC may approve it.
The business revealed on May 30 that it had raised $2.44 billion from around 50 institutional investors in a private placement.
The proceeds of the investment round, which comprised $1 billion in zero-coupon convertible notes and 55.9 million shares at $25.72, were allocated for general operations and the purchase of Bitcoin.
Devin Nunes, the president and CEO of TMTG, called Bitcoin “an apex instrument of financial freedom” in a May 27 release, adding that it would be a key part of the company’s asset base.
Donald Trump’s business, Trump Media, will purchase $2.5 billion worth of Bitcoin, according to a post made by Arkham Intelligence on X that same day. “Is Trump going into Saylor Mode?” alludes to the executive chairman of MicroStrategy and his assertive approach to Bitcoin.
Furthermore, these bitcoin endeavors are greatly helping President Trump.
According to a July 2 Bloomberg story, Trump and his family have reportedly made over $620 million from cryptocurrency projects in recent years. As of June, Trump’s personal cryptocurrency holdings accounted for around 9% of his estimated $6 billion fortune.
Most of this money is linked to his family-owned company, World Liberty Financial, and the introduction of his own meme coin, TRUMP, in addition to endeavors connected to the Truth Social.
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