Truth Social Withdraws Plans for Crypto ETFs
- President Trump’s Truth Social has abandoned plans for a suite of crypto ETFs tied to Bitcoin, Ethereum, Solana, Cronos, and XRP.
- The withdrawal was requested by Yorkville America Digital, partnered with Trump Media and Crypto.com, via three filings submitted to the SEC on May 19.
- No registration statements for the ETFs had become effective, and no ETF shares were issued or sold.
- The proposed Truth Social Crypto Blue Chip ETF was structured as a passive fund with a 70% allocation to Bitcoin.
- The funds were initially planned to list on NYSE Arca, with Foris DAX as the digital asset custodian and execution agent.
Truth Social has decided not to pursue its plans for crypto ETFs linked to major digital assets like Bitcoin and Ethereum. The filings indicated that none of the registration statements had been activated or shares issued.
Source (3.2)https://cryptobriefing.com/trumps-truth-social-scraps-bitcoin-ether-blue-chip-etfs/?rand=59535
