16.06.2025 20:51

Trump Media & Technology Group, aiming to capitalize on the burgeoning cryptocurrency market, has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC). This filing paves the way for the launch of their Truth Social Bitcoin and Ethereum ETF, aptly abbreviated as B.T.

This innovative ETF will directly hold Bitcoin and Ether, with a strategic initial allocation emphasizing Bitcoin at 75% and Ether at the remaining 25%. Investors will purchase shares mirroring the performance of these cryptocurrencies, anticipating trading on the NYSE Arca exchange upon regulatory approval.

Crypto.com has been entrusted with significant responsibilities, acting as the exclusive custodian, prime execution agent, staking provider, and liquidity provider for the fund. Yorkville America Digital, LLC takes on the role of sponsor, highlighting a collaborative effort to bring this ETF to market. However, the company has clearly stated that the launch hinges on both the SEC's effectiveness declaration of the Registration Statement and the subsequent approval of a Form 19b-4 filing.

Structured as a Nevada business trust, the ETF's shares will be issued and redeemed in substantial blocks of 10,000 shares by authorized participants, utilizing cash for creation and redemption processes. The company plans to offer in-kind transactions in the future, contingent upon securing further regulatory clearances.

Importantly, Trump Media has publicly acknowledged that the SEC registration statement remains pending; sales and offers to purchase shares are prohibited until the statement gains effectiveness. A notable aspect is the ETF's exemption from the Investment Company Act of 1940. This exemption stems from its direct holding of Bitcoin and Ether, not securities, thus classifying it as a grantor trust and obviating the need to comply with regulations designed to protect investors in traditional funds.