Truth Social, owned by Trump Media & Technology Group, has registered to launch an exchange-traded fund (ETF) that will track the prices of both bitcoin and ether. According to the Form S-1 issued on Monday, the proposed "Truth Social Bitcoin and Ethereum ETF, B.T." intends to allocate approximately 75% of its assets to Bitcoin and the remaining 25% to Ether.
The fund's sponsor, Yorkville America Digital LLC, reserves the right to amend this allocation. If so, it will be notified through official filings or on the fund's website. Foris DAX Trust Co. LLC is designated as the ETF's custodian, retaining its role from earlier Truth Social crypto ETF filings.
Truth Social is the third issuer to seek approval for a dual bitcoin-ether ETF after Bitwise and Hashdex. In the meantime, Volatility Shares and ProShares have applied for futures-based products. This approach comes after Truth Social's recent filing for a single-asset bitcoin ETF and the SEC's clearance of a multibillion-dollar bitcoin endeavor following a $2.32B private offering.
These developments show Trump Media's growing influence in the digital asset market, as well as President Trump's growing interest in cryptocurrency, as seen by disclosures that he gained more than $57 million from the sale of World Liberty Financial's WLFI token.
