Trump-Linked Platform Files for Diversified Crypto Fund

Truth Social has submitted regulatory paperwork to launch an exchange-traded fund tracking five major cryptocurrencies. The platform affiliated with former President Donald Trump filed its S-1 registration with the U.S. Securities and Exchange Commission on July 8, proposing a "Crypto Blue Chip ETF" with holdings in Bitcoin (70%), Ethereum (15%), Solana (8%), Cronos (5%) and XRP (2%).

NYSE Arca Listing Planned After Review

The Nevada-based trust aims to list on NYSE Arca following SEC approval, with Yorkville America Digital serving as sponsor. Unlike conventional investment vehicles, the ETF won't operate as a registered investment company or commodity pool, instead using authorized broker-dealers for share creation and redemption in 10,000-unit blocks.

Second Crypto Product in Three Weeks

This marks Truth Social's second crypto-related SEC filing since June, when it proposed a dual Bitcoin-Ethereum ETF with 75-25% allocation. The SEC began reviewing that application this week, with Crypto.com serving as asset custodian. ——Industry observers note the moves signal growing institutional interest in crypto exposure through traditional markets——

Structural Differences From Spot ETFs

【Notably】, the new filing specifies the fund won't hold actual cryptocurrencies but rather track their performance through derivative instruments. Custodians will safeguard the underlying assets, with any allocation changes requiring regulatory amendments. The structure resembles commodity-based ETFs more than recently approved spot Bitcoin products.

Political Dimensions of Crypto Push

The development comes as digital assets emerge as a 2024 election issue, with Trump recently embracing cryptocurrency after earlier skepticism. Truth Social's parent company Trump Media confirmed a $2.5 billion Bitcoin capital raise last month, signaling a strategic pivot toward blockchain technologies.