Key notes
- The FNB Crypto of Truth Social allocates 70% to Bitcoin, 15% in Ethereum and smaller portions at XRP, Solana and Cronos.
- The crypto.com affiliate Dax included serves as a guardian and liquidity supplier for the negotiated stock market proposed.
- Two additional Crypto products focused on Bitcoin and Bitcoin-Ethereum combinations also seek regulatory approval.
Truth Social, the social media platform owned by American president Donald Trump through Trump Media & Technology Group (TMTG), has further intensified his cryptographic investment campaign. On Tuesday, July 8, the company filed an S-1 form with the US Securities and Exchange Commission (SEC) for an FNB Truth Social Crypto Blue Chip.
Trump’s Truth Social S-1 depositing for Crypto Blue Chip Etf | Source: dry.gov
Sponsored by Yorkville America Digital LLC, the ETF will follow the performance of five main digital assets, Bitcoin
BTC
$ 108 323
24h volatility:
0.4%
COURTIC CAPESSION:
$ 2.15 T
Flight. 24 hours:
$ 26.26 B
Ethereum
Ethn
$ 2,559
24h volatility:
0.3%
COURTIC CAPESSION:
$ 308.90 B
Flight. 24 hours:
$ 16.38 B
,,
Xrp
$ 2.26
24h volatility:
0.2%
COURTIC CAPESSION:
$ 133.78 B
Flight. 24 hours:
$ 4.52 B
Solara
GROUND
$ 149.3
24h volatility:
1.2%
COURTIC CAPESSION:
$ 79.99 B
Flight. 24 hours:
$ 4.32 B
and cronos
Cro
$ 0.0807
24h volatility:
0.3%
COURTIC CAPESSION:
$ 2.51 B
Flight. 24 hours:
$ 12.19 M
With an initial allowance of 70%, 15%, 8%, 5%and 2%respectively.
If it is approved, the fund will negotiate on NYSE Arca, issuing actions in creation units of 10,000. Only creations and cash buybacks will be authorized at launch, transactions in kind being considered as a future regulatory authorization.
Truth Social Lists Crypto.com, CME and CF Benchmarks as guards suppliers
Foris Dax Inc., an American subsidiary of Crypto.com, is listed both as a caretaker supplier and liquidity for ETF. See Benchmarks, one of the main Crypto index providers, will offer real -time prices via its reference indices based on CME.
In addition to the Blue Chip ETF, Truth Media and Yorkville are looking for the approval of the dry for two other products: the ETF of Truth Social Bitcoin and the FNB Truth Social Bitcoin & Ethereum, which will offer a more concentrated exposure to BTC and ETH respectively.
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Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but should not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.
Ibrahim Ajibade is a seasoned research analyst with training by supporting various web3 and financial organizations. He obtained his undergraduate diploma in economics and is currently studying for a master’s degree in blockchain and distributed major book technologies at the University of Malta.
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