Truth Social Shakes Up Crypto Markets with Bold ETF Bid: BTC, ETH, SOL, XRP & CRO in Play
Truth Social just lobbed a grenade into traditional finance—filing for an ETF that reads like a crypto maximalist's shopping list. Bitcoin, Ethereum, Solana, XRP, and Cronos all make the cut.
Wall Street's old guard won't like this one bit.
The proposed fund throws weight behind five major digital assets, bypassing the usual gold-and-bonds ETF snoozefest. It's a power move that could force institutional investors to finally take crypto seriously—or die trying.
Solana's inclusion proves Layer 1 wars are far from over, while XRP's presence suggests regulators might be losing their anti-crypto religion. Cronos? That's the dark horse pick that'll either mint millionaires or become a cautionary tweet.
One thing's certain: the SEC's inbox just got more interesting. And if approved? Watch traditional finance types suddenly 'discover' blockchain like it's 2017 all over again.
Truth Social Crypto Blue Chip ETF
According to the July 8 SEC filing, the ETF portfolio will be structured to hold approximately 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP by value.
If approved, the ETF will be listed and traded on NYSE Arca, though the fund’s ticker symbol has not yet been disclosed.
The proposed ETF will operate as a passive investment vehicle, tracking the market prices of its underlying crypto without using leverage, derivatives, or speculative trading strategies. The fund will also participate in staking for assets such as Ethereum, Solana, and Cronos, enabling it to generate staking rewards.
The filing names Crypto.com’s institutional arm, Foris DAX Trust Company, as the custodian responsible for safeguarding the fund’s assets.
Yorkville America Digital Asset Management will act as the ETF’s sponsor, overseeing operations and compliance. CF Benchmarks Ltd., a well-known index provider, will be tasked with calculating and publishing US dollar valuations for the fund’s digital assets.
In addition, the Trust may allow in-kind transactions, where Authorized Participants exchange crypto directly for ETF shares, if the NYSE Arca receives the necessary regulatory approval. However, the timeline for this approval remains uncertain.
Crypto ETFs
This application follows Trump Media’s earlier filing for a separate spot Bitcoin and Ethereum ETF, which proposes a simpler 75% BTC and 25% ETH allocation.
Both filings arrive as the SEC weighs a streamlined process for listing crypto ETFs, potentially signaling broader institutional adoption soon.
Nate Geraci, president of NovaDiusWealth, opined that the industry might not see any new ETF approval until this framework is implemented. He said:
“Some issuers don’t believe this framework will be fully implemented until early fall. So, no spot crypto ETF approvals until then.”
