NYSE Arca, a division of the New York Stock Exchange, is making moves in the crypto world with a new filing to launch a Bitcoin ETF linked to U.S. President Donald Trump’s media venture, Truth Social. This development signals growing interest in integrating digital assets into mainstream financial products.
Recently, the exchange submitted a 19b-4 form to the Securities and Exchange Commission (SEC), proposing a new fund that would mirror the performance of Bitcoin, similar to existing spot Bitcoin ETFs. The filing was made on behalf of Yorkville America Digital, a crypto asset manager and partner of Trump Media & Technology Group, the company behind Truth Social.
If approved, the fund would trade under the name “Truth Social Bitcoin ETF,” offering investors an innovative way to gain exposure to Bitcoin without directly owning the digital currency. The proposed custodian for this ETF is Foris DAX Trust Company, the same institution that safeguards assets for Crypto.com, adding a layer of credibility to the project.
It’s important to note that a 19b-4 filing is a standard step for self-regulatory organizations (SROs) when proposing a new rule change, and the process also involves submitting an S-1 document to formalize the proposal. This move highlights the increasing regulatory attention and interest in crypto-based investment vehicles.
The potential launch of the Truth Social Bitcoin ETF reflects a broader trend of traditional finance embracing cryptocurrencies. Investors are eager for new opportunities to participate in the crypto market, and ETF products are a popular choice for gaining exposure with ease and regulatory oversight.
Stay tuned as the SEC reviews this proposal. If approved, it could mark a significant milestone in the acceptance of cryptocurrencies within regulated investment frameworks, opening doors for more innovative crypto ETFs in the future.
