Trump Media & Technology Group Corp. (NASDAQ:DJT), the parent company of Truth Social, has submitted a preliminary registration statement to the U.S. Securities and Exchange Commission (SEC) for a new cryptocurrency exchange-traded fund (ETF), the company announced Monday.
The proposed fund, named the Truth Social Bitcoin and Ethereum ETF (ticker: B.T.), will directly hold digital assets, allocating 75% of its capital to Bitcoin and 25% to Ethereum. The ETF is intended to mirror the market performance of the two leading cryptocurrencies.
Crypto.com has been selected as the ETF’s exclusive custodian and prime execution provider. It will also manage staking and liquidity services for the fund’s crypto holdings.
Pending approval from the SEC, including a Form 19b-4 submission, the ETF aims to list its shares on NYSE Arca. Yorkville America Digital is set to serve as the fund’s sponsor.
Trump Media, which also owns the streaming service Truth+ and financial technology brand Truth.Fi, saw its stock rise 1.7% following news of the filing. The company trades under the DJT ticker on both the Nasdaq and NYSE Texas exchanges.