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Truth Social, Media Platform associated with the US President Donald TrumpHe submitted a new request to the US Securities and Stock Exchange Commission (SEC) for the Fund of Traded with the Cryptometer (ETF).
The aim of the proposed vehicle called The Truth Social Crypto Blue Chip ETF is to provide direct exposure to the baskets with leading digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (Sol), XRPand Cronos (Cro).
The reports had a limited impact on the market for more established digital assets such as BTC, ETH, Sol and XRP. However, it increased the CRO value by more than 12% to monthly maximum $0.09202.
Truth Social Crypto Blue Chip ETF
According to July 8 seconds submissionThe ETF portfolio will be structured to hold approximately 70% of bitcoins, 15% Ethereum, 8% Solana, 5% Cronos and 2% XRP by value.
If approved, the ETF will be listed and traded on NYSE Arca, although the Ticker Fund symbol has not yet been published.
The suggested ETF will act as a passive investment vehicle and monitors the market prices of its basic cryptor without using the leverage, derivatives or speculative business strategies. The fund also participates in the download of assets such as Ethereum, Solana and Cronos, allowing it to generate rewards.
The name of the institutional arm Crypto.com, Foris Dax Trust Company, as a caretaker responsible for protecting the asset of the fund.
Yorkville America Digital Asset Management will act as an ETF sponsor, oversees operations and compliance. CF Benchmarks Ltd., a well -known index provider, will be entrusted with the calculation and publishing the US dollars for digital assets of the fund.
In addition, confidence may allow factual transactions if authorized participants exchange crypto directly for ETF shares if NYSE Arca receives the necessary regulatory approval. However, the timeline for this approval remains uncertain.
Crypto ETF
This app follows Trump Media Earlier administration of a separate Bitcoin shoe and Ethereum ETF, that suggests a simpler 75% BTC and 25% of ETH allocation.
Both submissions arrive because SEC weighs an effective process for a list of crypt ETFs, which soon signals wider institutional adoption.
Nate Geraci, president of Novadiuswealth, believed that this industry might not see any new ETF approval until this framework was carried out. He said:
“Some issuers do not believe that this frame will be fully implemented until the beginning of autumn. Until then, no spot approval of the crypto ETF.”
