Truth Social files S-1 for Crypto Blue Chip ETF based on Bitcoin, Ether, XRP, Solana, and CRO. Importantly, the fund is structured as a Trust that is not subject to regulation by the SEC or CFTC.
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More on Trump’s Latest Crypto Move
Yorkville America Digital, LLC has filed an S-1 form with the SEC on behalf of the Truth Social Crypto Blue Chip ETF, B.T. – a trust managing a passive index of five digital assets. A key detail is that the structure is registered as a trust, which means it is not subject to SEC or CFTC jurisdiction. However, based on the trajectory of other crypto ETFs, it is likely that this trust may later be converted into a structure that falls under SEC oversight.
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Among other structural features, the trust will allocate its assets as follows:
- Bitcoin – 70%
- Ethereum – 15%
- XRP – 8%
- Solana – 5%
- CRO – 2%
Yorkville America Digital, LLC serves as the sponsor of the fund, while Foris DAX Trust Company acts as the custodian of the digital assets. The creation and redemption of shares will occur in baskets of 10,000 shares, available exclusively to authorized participants. If approved, the ETF will be listed on NYSE Arca, although the exact ticker has not yet been disclosed.
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Conclusion
While other crypto ETFs have advanced considerably, the Truth Social Crypto ETF is just beginning its journey. Time will tell how smoothly and consistently this launch unfolds. Stay with us for timely updates on the crypto market and regulatory developments.
