Truth Social Files for Dual Bitcoin and Ethereum ETF on NYSE Arca

Truth Social, the social media platform associated with former US President Donald Trump, has filed for a dual Bitcoin and Ethereum ETF, marking a significant entry into the crypto investment market. This proposed ETF aims to provide investors with a simplified way to gain exposure to the two largest cryptocurrencies by market capitalization, Bitcoin and Ethereum, through shares backed by assets held in Crypto.com’s custody services.

The ETF will be listed on NYSE Arca, with further details on ticker symbols and cash custodians expected in an upcoming amendment. This move by Truth Social, through its sponsor Yorkville America Digital, is a strategic entry into the crypto ETF market. The ETF will hold shares backed by actual Bitcoin (BTC) and Ether (ETH) assets, which will be custodied by Foris DAX Trust Company, a subsidiary of Crypto.com. This approach aims to mitigate the complexities and risks associated with direct cryptocurrency ownership, such as wallet management and security concerns.

Truth Social’s filing with the US Securities and Exchange Commission (SEC) on June 16, 2025, proposes the launch of a dual Bitcoin and Ethereum exchange-traded fund (ETF). This ETF is designed to offer investors streamlined access to the two largest cryptocurrencies by market capitalization. By holding shares backed by actual Bitcoin (BTC) and Ether (ETH) assets, the fund aims to simplify crypto exposure and reduce the risks associated with direct cryptocurrency ownership. The backing assets will be custodied by Foris DAX Trust Company, operating under Crypto.com, a well-established digital asset platform known for its robust security infrastructure.

The ETF shares are slated for listing on the New York Stock Exchange Arca (NYSE Arca), a venue recognized for hosting numerous crypto-related ETFs and exchange-traded products. While the filing confirms Crypto.com as the custodian of the underlying digital assets, key operational specifics such as the ETF’s ticker symbol and the designated cash custodian remain to be finalized. Truth Social has indicated plans to file an amendment detailing the prime execution agency agreement with Crypto.com, which will clarify these outstanding elements. This phased disclosure approach aligns with regulatory best practices, ensuring transparency and compliance as the product moves closer to market launch.

The ETF filing follows closely on the heels of the SEC’s approval of Trump Media and Technology Group’s (TMTG) $2.3 billion Bitcoin treasury registration, granted on June 13. This approval authorizes TMTG to hold Bitcoin as part of its treasury reserves, reflecting a growing trend among corporations integrating cryptocurrency into their balance sheets. Despite this approval, TMTG has publicly stated it has “no immediate plans” to issue securities under the Bitcoin treasury deal, signaling a cautious and measured approach to crypto asset management. Earlier in May, TMTG disclosed a $2.5 billion capital raise intended for Bitcoin acquisition, which had initially been met with skepticism until official confirmation.

The introduction of a dual Bitcoin and Ethereum ETF by a high-profile entity such as Truth Social could influence broader market dynamics by increasing institutional and retail investor participation in crypto assets. ETFs offer a regulated and accessible vehicle for exposure, potentially attracting investors who are hesitant to engage with direct cryptocurrency purchases due to volatility and custody risks. Moreover, the involvement of Crypto.com as custodian adds a layer of credibility and security, which is critical in an industry often challenged by regulatory scrutiny and operational risks. Market analysts suggest that this development could spur competitive responses from other asset managers aiming to capture growing demand for diversified crypto investment products.

Truth Social’s filing for a dual Bitcoin and Ethereum ETF represents a notable advancement in the integration of cryptocurrency within traditional financial markets. By leveraging Crypto.com’s custody services and targeting a NYSE Arca listing, the platform is positioning itself to offer a secure and regulated investment option that simplifies crypto exposure. Coupled with the recent SEC approval of TMTG’s Bitcoin treasury registration, these moves underscore a strategic pivot toward embracing digital assets within corporate and investment frameworks. Investors and market participants should monitor forthcoming amendments for detailed operational disclosures, as this ETF could become a significant player in the evolving crypto investment landscape.