Truth Social Registers Dual ETF on the Trading Floor
Truth Social, the social networking platform operated by Trump Media and Technology Group, has just submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC). The goal is to list two Bitcoin ETF and Ethereum funds on the NYSE Arca.
Name of the New ETF and Investment Structure
The new ETF is named Truth Social Bitcoin and Ethereum ETF, B.T. This fund will directly hold Bitcoin and Ether, with 75% of its assets in Bitcoin and the remaining 25% in Ethereum. This is a rare hybrid model in the cryptocurrency market, allowing investors to access two popular blockchain assets through the traditional stock market.
The ETF shares will be traded on NYSE Arca after receiving approval from the regulatory agency. However, the stock code and share price have not yet been officially announced.
Benefits of Cryptocurrency Hybrid ETF
Instead of directly owning coins, investors can access the cryptocurrency market through these ETF shares. Notably, customers can take advantage of the opportunity to diversify their investment portfolio without having to store or manage complex digital wallets.
Crypto.com will be the main partner in custodial services for these assets, providing backup management, executing transactions, staking, and maintaining liquidity. All activities will take place within the secure, transparent blockchain ecosystem of a reputable platform.
Approval Process and What You Need to Know Next
Currently, all attention is focused on the SEC to review the S-1 registration statement and the proposed rule 19b-4, which allows the listing of the ETF. This process may take several months, and there is no official guarantee of approval.
If successful, the Truth Social ETF will compete with giants like BlackRock and Fidelity, which have entered the market with similar products. This opens up new opportunities for individual investors in the increasingly professional and diversified field of cryptocurrency.
Source: https://tintucbitcoin.com/truth-social-dang-ky-bitcoin-ethereum-etf-nyse/
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