Well, folks, it seems the world of social media and cryptocurrency has found a new love child. Truth Social, the brainchild of the Trump Media and Technology Group, has decided to throw its hat into the ETF ring. They’ve filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to list their very own Bitcoin and Ethereum ETFs on NYSE Arca. 🎉
According to the filing, the new ETF will be called the Truth Social Bitcoin and Ethereum ETF, or B.T. for short. Because, you know, why not keep it simple? The ETF will hold a whopping 75% of its assets in Bitcoin and the remaining 25% in Ethereum. It’s like a crypto cocktail, but with a side of regulatory paperwork. 📜
NEW: Trump’s Truth Social has filed for a dual Bitcoin & Ethereum ETF.
— James Seyffart (@JSeyff) June 16, 2025
The ETF’s shares will be listed and traded on NYSE Arca, pending the SEC’s blessing. However, they haven’t announced the ticker symbols or the share price yet. It’s like a surprise party, but for investors. 🎈
This setup makes it one of the few funds that combine both top cryptocurrencies into one package. The goal? To let investors dip their toes into the crypto pool without actually owning the digital assets. It’s like a virtual reality experience, but for your portfolio. 🕶️
Crypto.com Takes the Lead on Custody
Backing the fund is Crypto.com, which will handle all the heavy lifting. They’ll manage asset custody, trade execution, staking, and liquidity. In other words, they’ll be the ones making sure your digital coins are safe and sound, and that your buy/sell orders are executed with the precision of a Swiss watch. 🕰️
What’s Next?
Now, all eyes are on the SEC to approve both the S-1 registration and a separate 19b-4 form, which proposes a rule change to allow the listing. This process can take several months, and there’s no guarantee of approval. It’s like waiting for a response to a job application, but with a lot more money on the line. 🤞
If approved, Truth Social’s ETF will join a crowded market, with established players like BlackRock and Fidelity already offering similar products. It’s like trying to open a new coffee shop on a street full of Starbucks. Good luck with that! ☕
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2025-06-16 16:37