The official OKX app features seamless multilingual interface switching, providing global users with barrier-free trading experience. Our innovative social copy trading system connects you with professional strategies, while open API supports customized q
Download for Android Download for IOS
Truth Social, the social media platform founded by former U.S. President Donald Trump, has submitted regulatory paperwork to launch a novel cryptocurrency investment product. The platform filed an S-1 registration statement with the Securities and Exchange Commission on Monday for a dual Bitcoin and Ethereum exchange-traded fund.
The proposed Truth Social Bitcoin and Ethereum ETF would track the spot prices of both digital assets while utilizing Crypto.com's custody services. According to the filing, digital assets backing the fund shares would be held by Foris DAX Trust Company, operating as Crypto.com. 【This marks the first major crypto ETF initiative from a social media company】
Yorkville America Digital, an asset management firm, is listed as the ETF's sponsor. The shares are planned for listing on NYSE Arca, though the ticker symbol and cash custodian remain undetermined at this stage.
This filing follows closely on the SEC's Friday approval of Trump Media and Technology Group's $2.3 billion Bitcoin treasury registration. ——While the company stated it has no immediate plans to issue securities under that arrangement, the back-to-back crypto moves signal growing institutional interest——
Notably, the Truth Social ETF proposal arrived alongside CoinShares' S-1 filing for a Solana spot ETF. Industry analysts currently count eight Solana ETF applications under SEC review, though approvals aren't expected imminently.
The dual-crypto approach differentiates Truth Social's offering from single-asset ETFs that dominate the current market. Bloomberg ETF specialist Eric Balchunas noted the crowded field of Solana ETF applicants now includes major players like Fidelity and Grayscale.
【Crypto.com's involvement】 as custodian represents another milestone for the exchange, which has been expanding its institutional services. The filing indicates Truth Social will later amend with additional details about its execution agreement with the platform.
As cryptocurrency investment products proliferate, this move positions Trump's media venture at the intersection of social platforms and digital asset innovation. The SEC's response timeline remains uncertain, with most analysts predicting a months-long review process.