TL;DR
- Truth Social filed with the SEC for a multi-crypto ETF that will combine Bitcoin, Ethereum, Solana, Cronos, and Ripple in a single product.
- The fund will allocate 70% to Bitcoin and entrust custody, staking, and liquidity to Crypto.com, with plans to list on NYSE Arca under Nevada registration.
- Analysts see potential to attract institutional capital and improve the offering in a market still focused on single-asset ETFs.
Truth Social surprised the U.S. market by formally submitting a filing to the SEC to launch a crypto ETF that will bundle several digital assets into a single financial product.
The initiative, in partnership with Yorkville America Digital and Crypto.com, aims to list this product on NYSE Arca and offer investors an alternative in a market that, so far, has mostly prioritized single-asset ETFs.
Truth Social’s new ETF will be registered in Nevada and will feature a clearly defined allocation. Bitcoin will represent 70% of the portfolio, followed by Ethereum at 15%, Solana at 8%, Cronos at 5%, and Ripple at 2%. Crypto.com will handle custody, staking, and liquidity management, ensuring centralized control of the fund’s digital assets.
Truth Social Aims to Launch a Unique ETF
Truth Social’s proposal responds to growing institutional and retail demand for more diversified instruments. However, no multi-asset cryptocurrency ETFs have been approved in the United States yet. This product seeks to fill that gap and allow investors to gain exposure to several of the market’s leading crypto assets through a single purchase.
So far, neither Yorkville America Digital nor Crypto.com have issued public statements about the project. Likewise, no particularly notable reactions have emerged from major industry analysts, though the market is watching the initiative with cautious optimism, considering its potential impact on the prices of Bitcoin, Ethereum, and the other tokens involved.
According to the latest data from CoinMarketCap, Bitcoin is trading around $108,700, with a market capitalization of $2.16 trillion and a 41.75% gain over the past 90 days.
The launch of Truth Social’s proposed product could attract institutional capital and significantly improve the supply of properly regulated investment vehicles, adding greater depth and stability to crypto markets
