Truth Social, Owned by Donald Trump, Moves to Launch Spot Bitcoin ETF
Finance/Markets

Truth Social, Owned by Donald Trump, Moves to Launch Spot Bitcoin ETF

NYSE Arca has submitted paperwork with the SEC for a Bitcoin ETF linked to Donald Trump's media firm, Truth Social.

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Background

NYSE Arca, a part of the New York Stock Exchange, has filed documents with the Securities and Exchange Commission (SEC) to introduce a fund connected to President Donald Trump’s media entity, Truth Social. The exchange submitted a 19b-4 filing to propose a fund that will track Bitcoin prices, akin to existing spot Bitcoin ETFs.

Key Points:

  • The fund is titled Truth Social Bitcoin ETF and aims to follow Bitcoin prices.
  • This filing represents a joint effort by Yorkville America Digital, collaborating with Trump Media & Technology Group.
  • If the ETF proposal is accepted, Foris DAX Trust Company will act as the custodian.

NYSE Arca’s submission also requires a second document, known as the S-1, to officially make the proposal valid. The ETF aims to begin trading under the name Truth Social Bitcoin ETF.

For further details, you can check NYSE’s official documentation on the matter: NYSE Filing.

President Donald Trump President Donald Trump (The White House)

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