Trump Media & Technology Group has filed a registration statement with the U.S. Securities and Exchange Commission to launch the Truth Social Bitcoin and Ethereum ETF, B.T.
The ETF will directly hold Bitcoin and Ether, with an initial allocation of 75% Bitcoin and 25% Ether. Shares of the fund will be offered to investors to track the performance of these assets and are expected to trade on NYSE Arca once approved.
Crypto.com has been selected as the exclusive custodian, prime execution agent, staking, and liquidity provider for the ETF. Yorkville America Digital, LLC is the sponsor of the fund.
According to the company’s announcement, “The launch of the Truth Social Bitcoin and Ethereum ETF is pending effectiveness of the Registration Statement as well as approval of a Form 19b-4 filing with the SEC.”
The fund is structured as a Nevada business trust. Shares will be issued and redeemed in blocks of 10,000 by authorized participants, with cash used for creation and redemption. The ETF may offer in-kind transactions in the future, pending additional regulatory approval.
Trump Media acknowledged, “A registration statement relating to the Shares has been filed with the SEC but has not yet become effective. The Shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.”
The ETF is not registered under the Investment Company Act of 1940, which typically governs mutual funds and traditional ETFs by imposing rules on investor protections, disclosures, and fund operations. Because the ETF holds Bitcoin and Ether directly rather than securities, it qualifies as a grantor trust and is exempt from these requirements.
The ETF filing also reflects Trump Media’s strategy to establish a presence in the digital asset space beyond social media and streaming. With the development of its financial services arm, Truth.Fi, the company is clearly positioning itself to compete in the growing digital asset space.
If approved, the Truth Social ETF would give investors a direct, regulated path into both Bitcoin and Ether through one fund. As Trump Media expands its presence in financial services, the move signals a clear intention to compete in the space.
Credit: Source link
