In a move that would make even the most seasoned crypto enthusiasts do a double-take, Trump Media Group, the company behind Truth Social, has filed for its first crypto exchange-traded fund (ETF). The plan? To bring top digital coins like Bitcoin, Ethereum, Solana, Cronos, and Ripple under one “blue chip” fund for everyday investors. 🤑💸
But what does this new ETF offer, and how might it change the game?
A Big Bet on Top Coins
According to the filing with the U.S. Securities and Exchange Commission (SEC), this Truth Social Crypto Blue Chip ETF plans to directly hold five major cryptocurrencies. The breakdown shows 70% of its value in Bitcoin, 15% in Ether, 8% in Solana (SOL), 5% in Cronos (CRO), and the last 2% in Ripple’s XRP. 📈
The idea is to let investors benefit from the performance of these coins together, without having to hold each one on their own. 🤝
To make this plan work, Truth Social is partnering with big crypto players. Crypto.com will handle custody, staking, and liquidity. 🤝
Green Light Still Needed
For now, the plan is waiting for approval. The SEC must clear the registration statement and sign off on a special filing called Form 19b-4. 📝
If approved, the ETF shares will trade on NYSE Arca, giving it access to one of the biggest U.S. trading floors for exchange-traded funds. Meanwhile, Yorkville America Digital is acting as the sponsor of the ETF. 🏛️
New Era of Crypto ETFs
The timing of this launch isn’t random. Many believe that the SEC, under the new Trump-led administration, could take a friendlier approach to crypto than before. Other big names like Bitwise, Grayscale, and Franklin Templeton are also lining up to launch their crypto ETFs. 🌟
If the Truth Social Crypto Blue Chip ETF goes live, it could mark a fresh chapter for crypto investing in America. 📖
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2025-07-08 16:42