Truth Social Files for Blue-Chip Crypto ETF with SEC
Truth Social submits S-1 filing to launch a blue-chip crypto ETF backed by BTC, ETH, SOL, XRP, and CRO.
- Truth Social files for a blue-chip crypto ETF with the U.S. SEC
- ETF includes Bitcoin, Ethereum, Solana, XRP, and Cronos
- Custodian to manage crypto assets on behalf of the trust
In a surprising twist, Truth Social — the social media platform backed by former President Donald Trump — has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for a new blue-chip cryptocurrency ETF. According to the official SEC filing, the ETF will focus on high-value, well-established digital assets, signaling Truth Social’s serious entry into the crypto investment space.
The ETF trust will primarily include five major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cronos (CRO). These assets are considered some of the most prominent in the crypto ecosystem and are often referred to as “blue-chip” tokens due to their established market presence and large market caps.
What’s Inside the Filing?
The S-1 filing outlines the structure of the ETF and the responsibilities of the trust. A key detail is that the crypto assets will be held by a qualified custodian, ensuring security and compliance with financial regulations. The trust model indicates that investors will not directly own the cryptocurrencies, but rather shares representing a portion of the fund’s holdings.
This approach is similar to other recently approved spot Bitcoin and Ethereum ETFs, but Truth Social’s fund stands out by including a diversified set of tokens beyond just BTC and ETH. The inclusion of SOL, XRP, and CRO shows an attempt to capture broader exposure to the crypto market.
Political and Market Implications
Truth Social’s move into crypto comes at a time when regulatory scrutiny remains high. However, with increasing institutional interest in digital assets and recent ETF approvals, this filing might gain traction.
Additionally, the fact that Truth Social is backed by Donald Trump adds a layer of political intrigue. Trump has previously been skeptical of crypto, making this initiative all the more noteworthy.
Whether this ETF will be approved remains to be seen, but it’s clear that the line between traditional finance, social media, and crypto continues to blur.
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