The post Truth Social Files S-1 Registration for Bitcoin & Ethereum ETFs on NYSE Arca appeared first on Coinpedia Fintech News
Truth Social, the social media platform operated by Trump Media and Technology Group, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to list its own Bitcoin and Ethereum ETFs on NYSE Arca.
Truth Social Files For Dual ETF
According to the filing, the new ETF will be called the Truth Social Bitcoin and Ethereum ETF, B.T. It will directly hold both Bitcoin and Ether, with 75% of its assets in Bitcoin and the remaining 25% in Ethereum.
The ETF’s shares will be listed and traded on NYSE Arca, pending regulatory approval. However, ticker symbols and other details like share price have not yet been announced.
This setup makes it one of the few funds that combine both top cryptocurrencies into one package. And, the goal is to let investors gain exposure to these cryptocurrencies through traditional stock markets, without needing to own the digital assets themselves.
Crypto.com Takes the Lead on Custody
Backing the fund is Crypto.com, which will handle all asset custody. It will also manage trade execution, staking, and liquidity. This means that everything from storing the digital coins to handling buy/sell orders and staking will be done through a single, trusted crypto platform.
What’s Next?
Now, all eyes are on the SEC to approve both the S-1 registration and a separate 19b-4 form, which proposes a rule change to allow the listing. This process can take several months, and there is no guarantee of approval.
If approved, Truth Social’s ETF will compete in a crowded market, with established players like BlackRock and Fidelity already offering similar products.