NYSE ARCA, which is part of the New York Stock Exchange, has submitted papers to Securities and Exchange Commission (SEC) to launch a fund issued by US President Donald Trump’s media company Truth Social.
Tuesday, the exchange filed a 19B-4 document to SEC for a fund that would track the price of Bitcoin
Like the already existing spot Bitcoin Exchange-Traded Funds (ETFS).
The filing was done on behalf of Crypto Asset Manager Yorkville America Digital, partner of Trump Media & Technology Group, the owner of Truth Social.
The manager of the fund, if approved, would be foris Dax Trust Company, who also acts as a custodian for Crypto.com’s assets.
A filing of 19B-4 is required to be filed by self-regulating organizations (SROs) to propose a rule change. Another document from the issuer, called S-1, is also obliged to make the proposal official.
The fund would act under the name Truth Social Bitcoin Etf according to the filing.
