A division of the New York Stock Exchange has filed for an exchange-traded fund from President Donald Trump’s right-leaning social media platform, Truth Social. A Form 19b-4 was filed on Tuesday by NYSE Arca for the Truth Social Bitcoin ETF, which it says looks to track the price of bitcoin. The form is one part of the process to get potential sign-off from the Securities and Exchange Commission to begin listing and trading.
“According to the Registration Statement, the Trust seeks to reflect generally the performance of the price of bitcoin,” the filing read. “The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities.” The sponsor of the trust is Yorkville America Digital, LLC, and the custodian is Foris DAX Trust Company, LLC, according to the filing. The sponsor was described in a press release previously as an “America-first asset management firm.”
Nasdaq-listed Trump Media and Technology Group is the operator of Truth Social and Truth.Fi. The latter was created in January and approved to invest up to $250 million of its over $700 million in cash reserves into traditional investment vehicles, SMAs, ETFs, bitcoin, and “similar cryptocurrencies or crypto-related securities.” More recently, Trump Media established a corporate bitcoin treasury with a $2.5 billion offering.
Multiple firms have been vying for spot crypto ETFs for assets from SOL to XRP to DOGE, but Tuesday’s filing is unique given its ties to the president. The SEC has so far taken a friendlier approach to regulating the crypto industry in part through dropping lawsuits and investigations, and its new chair Paul Atkins has said it is a “new day” at the agency.
Stablecoin giant Tether has dramatically escalated its enforcement activity after blacklisting 370 blockchain addresses and freezing approximately $514.64 million worth…
Crypto exchange giant Coinbase experienced a major service outage that disrupted trading, transfers, and exchange operations after…
Cross-chain messaging protocol LayerZero has publicly apologized for its handling of the massive Kelp DAO exploitthat drained approximately $292…
Executives from PayPal and Google Cloud said the future of “agentic commerce” — where AI agents autonomously buy goods,…
Crypto exchange giant Kraken is making a major move deeper into the U.S. financial system after its…
A major national security scandal has erupted in Taiwan after prosecutors indicted a Taiwanese news…