Breaking: President Trump’s Truth Social Files S-1 for Bitcoin ETF
The post Breaking: President Trump’s Truth Social Files S-1 for Bitcoin ETF appeared on BitcoinEthereumNews.com.
US President Donald Trump’s social media firm Truth Social on submitted an S-1 with the U.S. Securities and Exchange Commission (SEC), as per a filing on Thursday. This happened a day after NYSE Arca submitted a filing to the U.S. SEC seeking regulatory approval to list the Truth Social Bitcoin ETF. At the time of writing, stock price of Trump Media & Technology Group (DJT), which owns Truth Social, saw its price dropped by 2.36% at $21.36. Truth Social Bitcoin ETF Files S-1 With the SEC According to an S-1 filing with the U.S. SEC on June 5, US President Donald Trump’s social media firm Truth Social and sponsor Yorkville America Digital provided more details about the proposed Bitcoin ETF. The latest filing did not revealed must anticipated details, such as fees and ticker. However, other information about NAV, trusts and seed capital opportunity were in detail. Moreover, Foris DAX Trust Company is selected as custodian and CME CF Bitcoin Real Time Index will provide updated Bitcoin price. This is similar to how other spot Bitcoin ETFs track prices. “The Trust is intended to provide a way for Shareholders to obtain exposure to bitcoin by investing in the Shares rather than by acquiring, holding and trading bitcoin directly on a peer-to-peer or other basis or via a digital asset platform,” as per the initial S-1 prospectus. ETF Experts on the Latest Filing Eric Balchunas, senior ETF analyst at Bloomberg, pointed out that the risk section which for the first time mentioned about regulatory uncertainty or headwinds. This included how President Trump launched crypto task force and Bitcoin strategic reserve. He commented, “Pretty sure the first time ever the advisor is in the risk section.. it’s all so surreal.” Bitwise Invest’s president Teddy Fusaro and Accelerate CEO Julian Klymochko were disappointed to…
