Truth Social Proposes Bitcoin and Ether ETF Backed by Crypto.com Assets, Details Pending
The post Truth Social Proposes Bitcoin and Ether ETF Backed by Crypto.com Assets, Details Pending appeared on BitcoinEthereumNews.com.
Truth Social, the social media platform linked to former US President Donald Trump, has filed for a dual Bitcoin and Ethereum ETF, signaling a significant move into crypto investment products. This proposed ETF aims to simplify crypto exposure for investors by offering shares backed directly by Bitcoin and Ether held through Crypto.com’s custody services. According to COINOTAG, the ETF will be listed on NYSE Arca, with further details on ticker symbols and cash custodians forthcoming in an amendment. Truth Social’s dual Bitcoin and Ethereum ETF filing with the SEC marks a strategic entry into crypto ETFs, backed by Crypto.com assets and set for NYSE Arca listing. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); Truth Social’s Dual Crypto ETF Proposal Highlights Strategic Market Entry On June 16, Truth Social officially submitted an S-1 registration form to the US Securities and Exchange Commission (SEC) proposing the launch of a dual Bitcoin and Ethereum exchange-traded fund (ETF). Sponsored by Yorkville America Digital, this ETF intends to provide investors with streamlined access to the two largest cryptocurrencies by market capitalization. By holding shares backed by actual Bitcoin (BTC) and Ether (ETH) assets, the fund aims to mitigate the complexities and risks associated with direct cryptocurrency ownership, such as wallet management and security concerns. The backing assets will be custodied by Foris DAX Trust Company, operating under Crypto.com, a well-established digital asset platform…
