It will be called “Truth Social Bitcoin and Ethereum ETF”.
Now, the SEC can take several months to decide whether it approves or rejects it.
Trump Media and Technology Group, a company behind Truth Social, presented registration documents to the SEC to launch a Dual Bitcoin ETF (BTC) and Ether (ETH).
The company, linked to the US president Donald Trump, called the financial vehicle as “Truth Social Bitcoin and Ethereum ETF,” and It will be based on the price of the two main digital assets of the world.
According to him form S-1 presented to the SEC, the ETF has the purpose of having BTC and ETF in exchange for actions that represent a beneficial fractional and undivided interest in the net assets of the fund.
It also indicates that the company behind Truth Social is the licensee of certain intellectual property assets in connection with the operation of the ETF. In addition, the company provides certain marketing and promotion services on behalf of the Fund.
The dry now has the authority to review the proposal, with a decision schedule that could be extended for several months depending on the priority you receive among the evaluation authorities.
This application is an independent of the first movement of the company linked to Trump, which at the beginning of this June submitted to the SC form the S-1 To launch your own Bitcoin ETF in cashas reported by cryptootics at the time.
