Truth Social Files for Bitcoin & Ethereum ETF
Truth Social Enters the Crypto Market with Bitcoin and Ethereum ETF Filing
Truth Social, the social media platform, has filed paperwork in Nevada for a new exchange-traded fund (ETF) focused on Bitcoin (BTC) and Ethereum (ETH). This strategic move signifies the company's expansion into the cryptocurrency investment space.
Key Developments:
- Nevada Filing: Truth Social registered the "Truth Social Bitcoin and Ethereum ETF" entity with the Nevada Secretary of State on June 5th.
- Dual-Asset Focus: The ETF aims to provide exposure to both Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization.
- SEC Approval Pending: While the Nevada filing lays the groundwork, formal SEC registration and approval are still pending.
- Separate Bitcoin ETF Filing: A separate Truth Social Bitcoin ETF was registered on June 3rd in Nevada. On the same day, NYSE Arca, on behalf of Yorkville America Digital, submitted a Form 19b-4 to the SEC for listing and trading of this ETF.
- Yorkville America Digital Involvement: Yorkville America Digital, in partnership with Trump Media and Crypto.com, is actively pursuing SEC approval for the Bitcoin fund, having submitted a Form S-1 registration statement.
This development marks a significant step for Truth Social into the crypto world. The success of this venture will depend heavily on securing the necessary regulatory approvals from the SEC.
Disclaimer: This news report is for informational purposes only and does not constitute investment advice. Always conduct thorough research before making any investment decisions.
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