Trump Media, the US President-linked company operating Truth Social, Truth+, and TruthFi, has filed with the US Securities and Exchange Commission to launch a combined ETF tracking the performance of the two largest cryptocurrencies by market cap.
If approved, the financial vehicle will hold BTC and ETH directly, with 75% of its AUM going toward the leading digital asset, while the remaining 25% will be for the largest altcoin.
Today’s press release by the Trump Media Group confirms previous reports that Crypto.com will serve as the exclusive BTC and ETH custodian of the ETF. Moreover, the exchange will be “prime execution agent, as well as staking and liquidity provider.”
Yorkville America Digital will be the ETF’s sponsor, which wil be listed on the NYSE Arca if approved by the US SEC.
The announcement distinguished the proposed ETF from being called a “security,” as the Shares “may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.”
The US securities watchdog has a new and friendlier leadership under the Trump administration, which raises the chances of a potential green light.
The current POTUS has undertaken a highly different approach when it comes down to the crypto industry, and one of the companies linked to him filing to launch a joint Bitcoin and Ethereum ETF is just another addition to the growing pro-digital asset initiatives.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
