Truth Social Goes Full Crypto—SEC Considers Trump-Linked ETF Filing
Main Idea
The SEC has begun reviewing a new spot-crypto ETF application from Trump Media's Truth Social unit, which proposes a fund with 75% Bitcoin and 25% Ether, while other Wall Street firms also compete with their own crypto ETF filings.
Key Points
1. Trump Media's Truth Social unit filed an S-1 form for a crypto ETF with 75% Bitcoin and 25% Ether, sponsored by Yorkville America Digital and custodied by Foris DAX Trust Company (Crypto.com's arm).
2. The fund would value Bitcoin and Ether using CME CF reference rates, with private keys stored securely to address custody concerns.
3. Wall Street firms like BlackRock and Fidelity have also filed Bitcoin and Ether ETF applications, with potential for faster reviews under a proposed automated listing framework.
4. The SEC delayed Fidelity's spot-Solana ETF application, opening a new public-comment window, indicating ongoing regulatory adjustments.
5. Investors should monitor SEC decisions, as approvals or rejections could accelerate the launch of spot-crypto ETFs this year.
Description
US regulators have kicked off the formal review of a new spot‑crypto fund. Investors won’t know for sure if it clears the hurdles until the US Securities and Exchange Commission makes a final call. But the filing itself signals growing acceptance of directly held crypto products. ETF Application Sparks Interest According to the SEC filing , Trump Media’s Truth Social unit wants an ETF listed on NYSE Arca with 75% in Bitcoin and 25% in Ether. Yorkville America Digital would sponsor the fund, whil...
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