Oh, dear reader, have you heard the latest news? The esteemed President Donald Trump, through his company Trump Media & Technology Group (TMTG), has decided to dip his toes into the world of cryptocurrency! Yes, you heard that right!
Trump’s Truth Social S-1 Filing for Crypto Blue Chip ETF | Source: SEC.Gov
On the 8th of July, Truth Social, the social media platform owned by the illustrious President, filed a Form S-1 with the US Securities and Exchange Commission (SEC) for a Truth Social Crypto Blue Chip ETF. Sponsored by Yorkville America Digital LLC, this ETF will track the performance of five major digital assets:
- Bitcoin (BTC) – the king of cryptocurrencies
- Ethereum (ETH) – the second-largest cryptocurrency
- XRP – the cryptocurrency of Ripple
- Solana (SOL) – the high-speed blockchain
- Cronos (CRO) – the cryptocurrency of Crypto.com
The initial allocation of these digital assets will be 70%, 15%, 8%, 5%, and 2% respectively. If approved, the fund will trade on NYSE Arca, issuing shares in creation units of 10,000. Only cash-based creations and redemptions will be allowed at launch, with in-kind transactions to be considered pending future regulatory clearance.
Truth Social Lists Crypto.com, CME, and CF Benchmarks as Custodian Providers
Foris DAX Inc., a US affiliate of Crypto.com, is listed as both the custodian and liquidity provider for the ETF. CF Benchmarks, a leading crypto index provider, will offer real-time pricing through its CME-based benchmark indices.
In addition to the Blue Chip ETF, Truth Media and Yorkville are seeking SEC approval for two more products: the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF, which will offer more concentrated exposure to BTC and ETH respectively.
Trump’s Influence Could Spark Demand for Best Wallet Presale
With the increased mainstream awareness from Trump’s Truth Social filing for multiple crypto ETFs, there might be a surge in demand for self-custody tools like Best Wallet. The $BEST token, currently in presale at $0.025295, offers reduced fees, early access to launches, higher staking rewards, and governance rights. With over $13.7M raised, click here to join the presale before the next price increase.
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2025-07-09 01:29