U.S. President Donald Trump’s Social Media Firm Truth Social To Launch Spot BTC ETF

NYSE Arca, which is a part of the New York Stock Exchange, has filed paperwork with the Securities and Exchange Commission (SEC) to launch a fund issued by U.S. President Donald Trump’s media firm Truth Social.

On Tuesday, the alternate filed a 19b-4 doc with the SEC for a fund that may monitor the worth of bitcoin

, just like the already present spot bitcoin exchange-traded funds (ETFs).

The submitting was made on behalf of crypto asset supervisor Yorkville America Digital, which is a associate of Trump Media & Technology Group, the proprietor of Truth Social.

The custodian for the fund, if authorised, can be Foris DAX Trust Company, which additionally serves because the custodian for Crypto.com’s belongings.

A 19b-4 submitting is required to be filed by self-regulatory organizations (SROs) to suggest a rule change. A second doc by the issuer, referred to as the S-1, can be required to make the proposal official.

The fund would commerce underneath the identify Truth Social Bitcoin ETF, in response to the submitting.