Truth Social also requests a combined ETF of BTC, Eth, Sun, XRP and Cro

By Hannah Pérez

Trump Media’s social networks branch requested a new ETF, this composed of several cryptocurrencies, including Bitcoin, XRP and the native token of its partner Crypto.com. It is the third ETF crypto requesting social truth.

***

• Trump Media’s social media branch requested a third ETF of cryptocurrencies.
• The ETF “Crypto Blue Chip” would be composed of BTC, ETH, XRP, Sun and the Native Token of Crypto.com.
• Truth Social awaits the SEC response for an ETF Bitcoin and another BTC and Ether combined.

---

Social truththe social network platform backed and widely used by Donald Trump, is delving into its ambitions to offer funds quoted in the stock market (ETF) of cryptocurrencies in the US market.

The records of the United States stock and securities commission (SEC) show that the company presented on Tuesday a registration form S-1 for a ETF under the name of “Crypto Blue Chip”, which would be composed of multiple cryptocurrencies.

Sponsored by Yorkville America Digitalthe fund aims to track five main cryptocurrencies included Bitcoin (BTC), Ethereum (Eth), Solarium (Sun), XRP and Cronos (Cro), –The native token of the exchange Crypto.com–initially with a weighted allocation of 70%, 15%, 8%, 2%and 5%respectively, by Token.

Social trutha division of Trump Media & Technology Grouppreviously requested the securities regulator to launch an ETF of Bitcoin in cash, followed by a proposal for a combined ETF of BTC and ETH.

Like these presentations, the paperwork for the new ETF “Crypto Blue Chip” also names Nyse Arca as the bag where the product would be listed and negotiated. The ETF will be rebuilt quarterly to maintain the objective assignments, with a Crypto.com subsidiary acting as a liquidity provider and background of the background.

The social media company associated with President Trump signed at the beginning of the year a binding agreement with Crypto.com and the asset management firm Yorkville America Digital To launch an ETF series, which is expected to understand several assets, including cryptocurrencies, with an “approach”manufactured in the United States“

That agreement was broader part of a new strategy of Trump Media to get involved with digital assets. The company launched in January Truth.fia Fintech brand with cryptocurrency ambitions, and revealed months later its objective of establishing a corporate treasury in Bitcoin, as part of your new approach. He has already requested a total of three cryptocurrencies ETF.

The SEC has already recognized another ETF request from Truth Social

The last request occurs a day after the SEC recognized the prospectus of Social truth For the combined ETF of Bitcoin and Etheroriginally presented in June. The reception starts the clock so that the agency approves or rejects that proposal.

Other asset administrators, such as Bitwise, Grayscale and Franklin Templeton They are also looking for green light for several ETF of cryptocurrencies in cash, including products focused on XRP, Solana, Dogecoin, Cardano, Avalanche, Litecoin and Polkadot.

The wave of applications is produced in the middle of a new era for the agency under the Trump Pro-descriptomoneas administration, with expectations that it will offer a more friendly regulatory approach than in the previous administration of Joe Biden.

The SEC approved the first ETFs of Bitcoin in cash in January 2024, followed by those of Ethereum In May of that year. He has also granted his approval to ETF combined from both greatest cryptocurrencies and more recently, last month, allowed the price of the first ETF of Solarium with the ability to Staking In the United States.

---

Hannah Estefanía Pérez / Diariobitcoin

Image of Unspash

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.