The New York Stock Exchange’s NYSE Arca division has filed with the Securities and Exchange Commission (SEC) for approval to launch an exchange-traded fund (ETF) from Truth Social, a company supported by US President Donald Trump.
More specifically, the exchange filed the application on behalf of crypto asset manager Yorkville America Digital, a partner of Trump Media & Technology Group (TMTG) and owner of Truth Social.
If approved, the fund will trade under the name Truth Social Bitcoin ETF, and its custodian will be Foris DAX Trust Company, which provides similar services for assets Crypto.com.
For the first time, the US SEC has approved bitcoin ETF in early 2024, allowing 11 such funds to trade on U.S. stock exchanges. They are issued by major financial institutions such as BlackRock and Fidelity, as well as cryptocurrency-focused companies such as Bitwise and Grayscale.
A few months after approval bitcoin ETF The US regulator also approved ETF based on cryptocurrency EthereumMany companies are currently awaiting approval. ETF based on other cryptocurrencies, including XRP, Solana и Dogecoin.
Truth Social’s interest in cryptocurrencies intensified earlier this year when the organization filed to register trademarks for six investment products related to Bitcoin and other assets.
