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Bitcoin and Ethereum ETF Filed by Truth Social Under Review by SEC
Trump Files SEC Applications for Bitcoin and Ethereum Exchange-Traded Funds (ETFs) on Truth Social
In a groundbreaking move, Truth Social, the social media network backed by the President of the United States, has filed with the U.S. Securities and Exchange Commission (SEC) for a joint Bitcoin and Ethereum Exchange-Traded Fund (ETF).
The purpose of this fund, as stated in the filing, is to own Bitcoin and Ethereum transferred to the Trust in exchange for Shares issued by the Trust. Each Share represents a fractional undivided beneficial interest in the net assets of the Trust, primarily consisting of Bitcoin and Ethereum held by the Bitcoin and Ether Custodian on behalf of the Trust [1][2].
The ETF is sponsored by Yorkville America Digital, with crypto custody handled by Foris DAX Trust Company, LLC, which is connected with digital asset exchange Crypto.com [1].
As the SEC reviews this filing, the Bitcoin segment is currently under intense scrutiny, with Ethereum's component not yet explicitly addressed [5]. Only time will tell if this joint ETF will change the landscape of digital asset trading.
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[1] Truth Social Files for BTC-ETH ETF | BusinessWire[2] Yorkville America Digital and Crypto.com Launch Joint Bitcoin-Ethereum ETF | CoinDesk[3] SEC Filing for Truth Social's Bitcoin-Ethereum ETF | SEC[4] SEC Reviewing Truth Social's Bitcoin-Ethereum ETF Filing | Coindesk[5] SEC Acknowledges Truth Social's Bitcoin ETF Filing but Focuses on the Bitcoin Segment
Investors might find the ongoing SEC review of Truth Social's joint Bitcoin and Ethereum ETF interesting, as it could potentially change the landscape of digital asset trading. Additionally, the altcoins sector sees continuous progress with projects like Meta Earth Network 2.0, Perceptron Network, and Bubblemaps integration with TON, all aiming to enhance blockchain-based finance and crypto ecosystems.
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