Trump’s Truth Social Files for Crypto Blue Chip ETF Featuring BTC, ETH, XRP, SOL, CRO

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ETH-5,54 %
BTC-3,05 %
XRP-1,44 %
CRO-0,45 %
SOL-5,08 %

Truth Social, the social media platform owned by US President Donald Trump through Trump Media & Technology Group (TMTG), has further intensified its crypto investment drive. On Tuesday, July 8, the company filed a Form S-1 with the US Securities and Exchange Commission (SEC) for a Truth Social Crypto Blue Chip ETF.

Trump’s Truth Social S-1 Filing for Crypto Blue Chip ETF | Source: SEC.Gov

Sponsored by Yorkville America Digital LLC, the ETF will track the performance of five major digital assets, Bitcoin BTC $108 323 24h volatility: 0.4% Market cap: $2.15 T Vol. 24h: $26.26 B , Ethereum ETH $2 559 24h volatility: 0.3% Market cap: $308.90 B Vol. 24h: $16.38 B , XRP $2.26 24h volatility: 0.2% Market cap: $133.78 B Vol. 24h: $4.52 B , Solana SOL $149.3 24h volatility: 1.2% Market cap: $79.99 B Vol. 24h: $4.32 B , and Cronos CRO $0.0807 24h volatility: 0.3% Market cap: $2.51 B Vol. 24h: $12.19 M , with an initial allocation of 70%, 15%, 8%, 5%, and 2% respectively.

If approved, the fund will trade on NYSE Arca, issuing shares in creation units of 10,000. Only cash-based creations and redemptions will be allowed at launch, with in-kind transactions to be considered pending future regulatory clearance.

Truth Social Lists Crypto.com, CME, and CF Benchmarks as Custodian Providers

Foris DAX Inc., a US affiliate of Crypto.com, is listed as both the custodian and liquidity provider for the ETF. CF Benchmarks, a leading crypto index provider, will offer real-time pricing through its CME-based benchmark indices.

In addition to the Blue Chip ETF, Truth Media and Yorkville are seeking SEC approval for two more products: the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF, which will offer more concentrated exposure to BTC and ETH respectively.

Trump’s Influence Could Spark Demand for Best Wallet Presale

Increased mainstream awareness from Trump’s Truth Social filing for multiple crypto ETFs, could drive demand for self-custody tools like Best Wallet.

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The post Trump’s Truth Social Files for Crypto Blue Chip ETF Featuring BTC, ETH, XRP, SOL, CRO appeared first on Coinspeaker.

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