The social media platform of American president Donald Trump, Truth Social, officially filed an S-1 form with the Securities and Exchange American Commission to launch a Dual Exchange Fund (ETF) for Bitcoin and Ether.
Placed on June 16, the S-1 form offers the program and the trade in Truth Social Bitcoin and Etf Ethereum, sponsored by the asset management company Yorkville America Digital.
The trust seeks to provide investors with an exhibition both in Bitcoin (BTC) and Ether (ETH) by offering actions supported by cryptographic assets to eliminate complexities resulting from direct investment.
The actions are supported by BTC and ETH held by the goalkeeper on behalf of the trust, Foris Dax Trust Company, doing business like Crypto.com, said the prospectus.
Ticker and cash guard to disclose
ETF shares are proposed to be listed on the New York Arca Stock Exchange (NYSE Arca), according to the file.
While Truth Social has officially determined that Crypto.com will be its dedicated supplier of cryptography guard, the company has not yet finalized the details of the next ETF, such as the fund’s ticker and its cash guard.
TRUTH Social also mentioned that he planned to file an amendment with a summary of the terms of the chord of the main execution agency with Crypto.com later.
The dry approves the recording of the Trump Media Bitcoin Treasury
The deposit of social truth Bitcoin and Ethet follows the approval of the Trump Media and Technology Group agreement of $ 2.3 billion in Bitcoin Treasury by the dry on June 13.
In the press release, the company said that it currently had “no immediate plan” to issue titles under the agreement.
TMTG had previously confirmed a capital increase of $ 2.5 billion to buy Bitcoin at the end of May after initially denied reports on the increase.
Review: American risks are “front run” on the Bitcoin reserve by other nations: Samson Mow
This is a history in development, and additional information will be added as it will be available.
