Division NYSE Arca of the New York Stock Exchange has filed for an ETF connected to Truth Social, the social networking platform started by former President Donald Trump.
Designed to track the price of Bitcoin, the file, Form 19b-4, seeks permission from the Securities and Exchange Commission (SEC) to list and trade the Truth Social Bitcoin ETF.
Excluding Trust expenditures and liabilities, the registration statement states the ETF aims to replicate the price performance of Bitcoin. Foris DAX Trust Company, LLC is the custodian; Yorkville America Digital, LLC, a “America-first asset management firm,” sponsors the trust.
Trump Media and Technology Group runs Truth Social under direction of Truth.Fi. Truth.Fi recently approved to invest up to $250 million of its cash reserves—more than $700 million—into separate managed accounts (SMAs), ETFs, Bitcoin, and other crypto.
Trump Media has also set up a corporate Bitcoin treasury supported by a $2.5 billion investment. Due mostly to its affiliation with a previous president, the latest application for the Truth Social Bitcoin ETF stands out among other companies seeking spot crypto ETFs for different assets including SOL, XRP, and DOGE.
