The social media platform Truth Social, operated by Trump Media & Technology Group, has recently made another move by officially submitting an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) to apply for the launch of the 'Truth Social Crypto Blue-Chip ETF', targeting Bitcoin, Ethereum, Solana (SOL), and other 5 cryptocurrencies.
According to the document, the preliminary asset allocation ratio of this ETF is roughly: Bitcoin (BTC) 70%; Ethereum (ETH) 15%; Solana (SOL) 8%; Cronos (CRO) 5%; Ripple (XRP) 2%. Among them, CRO is the native token of Cronos, a blockchain under Crypto.com.
This is the third cryptocurrency ETF product that Truth Social has expanded into after submitting applications for a Bitcoin spot ETF and a BTC+ETH dual currency ETF in June this year.
Like the previous two ETF cases, this 'Truth Social Crypto Blue-Chip ETF' is also issued by Yorkville America Digital, with Foris DAX Trust Company serving as the asset custodian. If approved, this ETF will be listed on the NYSE Arca trading platform of the New York Stock Exchange (NYSE).
In fact, earlier this year, Trump Media Group had already signed a memorandum of understanding with the cryptocurrency exchange Crypto.com and asset management firm Yorkville America Digital, announcing their joint effort to launch multiple ETFs themed around 'Made in America', covering digital assets and traditional financial products.
It is worth mentioning that Cronos passed a proposal in March this year amid controversy, planning to reissue 70 billion CRO that were originally destroyed in 2021 (valued at approximately 6.9 billion USD), which the market interpreted as aligning with the ETF's layout.
"Truth Social applies for the launch of 'Crypto Blue-Chip ETF', tracking BTC, ETH, SOL, and other 5 cryptocurrencies" was first published on (BlockTempo).
