Truth Social Files Bitcoin, Ether ETF Application with SEC

Truth Social, the social media platform under President Donald Trump's Trump Media & Technology Group, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission to launch a combined Bitcoin and Ethereum exchange-traded fund (ETF). Sponsored by Yorkville America Digital and custodial services provided by Foris DAX Trust Company, the proposed ETF would provide investors simplified exposure to Bitcoin and Ethereum without direct cryptocurrency ownership, initially holding assets at an approximate three-to-one Bitcoin-to-Ethereum ratio. This filing marks Truth Social as the third issuer seeking approval for a dual-spot crypto ETF, following companies like Bitwise and Hashdex, signaling a strategic move into digital asset financial products by a politically affiliated social media platform. The announcement coincided with a broader positive market sentiment that saw Bitcoin prices rise above $108,000 and substantial crypto inflows, including a notable purchase of 10,100 Bitcoin by the treasury company Strategy for $1 billion. This move highlights a growing acceptance and institutional interest in cryptocurrency investment vehicles, particularly ETFs, as they offer regulated access to volatile digital assets. While the ETF's ticker symbol and other final details remain pending, the regulatory filing underscores Truth Social's intent to diversify beyond social media into the cryptocurrency investment space.