President Donald Trump's social network, Truth Social, has taken an important step toward launching a dual cryptocurrency ETF by filing an S-1 registration statement with the SEC.
The Truth Social Bitcoin and Ethereum ETF, sponsored by Yorkville America Digital, aims to offer investors simplified exposure to Bitcoin and Ether without the complexities of direct cryptocurrency ownership.
According to the filing, the ETF's shares will be backed by BTC and ETH held in custody by Foris DAX Trust Company (operating as Crypto.com).
The fund is expected to trade on NYSE Arca, although key details such as the ticker symbol and cash custodian are still to be finalized.