#SECETFApproval

Truth Social, the social media division of Trump Media & Technology Group, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission for a "Crypto Blue Chip" exchange-traded fund.

If granted approval, the trust's assets will "primarily consist of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cronos (CRO)" — the native cryptocurrency of the Cronos blockchain, which is closely linked to the Crypto.com ecosystem — as stated in the preliminary prospectus. The initial allocation is anticipated to approximate value percentages of 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP, according to the filing.

Truth Social had previously submitted an application for a spot Bitcoin ETF in June, quickly followed by a request for a Bitcoin and Ethereum combination ETF.

Like those registration statements, the "Truth Social Crypto Blue Chip ETF" is sponsored by Yorkville America Digital, with Foris DAX Trust Company acting as its custodian for digital assets, as per the filing. Likewise, shares in the ETF are planned to be listed on the New York Stock Exchange Arca.

Earlier this year, Trump Media entered into a binding agreement and asset management firm Yorkville America Digital to initiate a series of ETFs, which are expected to include various digital assets and securities with a "Made in America" emphasis. In March, Cronos controversially approved a proposal to reissue 70 billion CRO ($6.9 billion) that had been previously burned in 2021.

Other asset managers, including Bitwise, Grayscale, Franklin Templeton, and REX Shares, are also pursuing the SEC's approval for several spot crypto ETFs, encompassing products focused on XRP, Solana, Dogecoin, Cardano, Avalanche, Hedera, Litecoin, and Polkadot. This surge occurs during a new era for the agency under the pro-crypto Trump administration, with hopes that it will be more receptive than under the previous Biden administration.