Truth Social, a division of the Trump Media & Technology Group (TMTG) owned by President Donald Trump, submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC) on Tuesday to register a new investment product called Truth Social Crypto Blue Chip ETF.
This fund is sponsored by Yorkville America Digital LLC and aims to track the performance of the top 5 digital assets, including Bitcoin, Ethereum, Solana, Cronos, and XRP, with an initial allocation ratio of 70%, 15%, 8%, 5%, and 2%, respectively.
The ETF will be listed on the NYSE Arca and will rebalance quarterly to maintain the target allocation ratio. Foris DAX Inc., a company affiliated with Crypto.com, will serve as the liquidity provider and the portfolio rebalancing entity for the fund.
According to the documents submitted to the SEC, “the trust fund is a passive investment vehicle aimed at reflecting the price performance of the assets in the portfolio, before accounting for the fund's costs and obligations.” The fund will issue shares in lots of 10,000 units and only authorized partners will have the right to create or redeem these lots.
If approved, the fund's shares will officially be listed on the NYSE Arca, issued in creation units of 10,000 shares. The initial phase will only allow cash transactions when creating or redeeming. Asset transactions may be applied after regulatory approval.
Foris DAX Inc., an affiliate of Crypto.com, will act as the custodian and provide liquidity for the fund. Benchmark pricing data will be provided by CF Benchmarks, using the CME index as a basis.
This move is part of Yorkville and Trump Media's ongoing expansion strategy to position Truth Social and the “America First” brand in the digital asset space.
Additionally, these units are also awaiting SEC approval to launch two more products: Truth Social Bitcoin ETF – an investment fund focused solely on Bitcoin and Truth Social Bitcoin & Ethereum ETF – a fund combining investments in the two leading digital assets, Bitcoin and Ethereum.