Truth Social, the company owned by US President Donald Trump, has registered with SEC to offer Bitcoin and Ethereum exchange-traded funds. A per Friday statement Truth Social Funds will launch Truth Social Cronos Yield maximizer ETF as well as Truth Social Bitcoin Ether ETF based upon the social platform. The SEC is reviewing the registration statement and it hasn’t yet taken effect.
Truth Social Funds and Crypto.com have partnered to create crypto exchange-traded fund. It will act as the cryptocurrency asset’s custodian. Foris Capital US LLC is the broker-dealer for Crypto.com. The ETFs can be bought through Foris Capital US LLC. Both funds will also be managed by Yorkville America Equities, LLC, with a fee expected of 0.95 percent.
Truth Social also claims that its Cronos Yield Minimizer ETF seeks investment results equivalent to CRO’s performance, which is the native currency of the Cronos Ecosystem, as well as a staking reward associated with this asset. Truth Social Bitcoin and Ether ETF aims to achieve investment returns corresponding to Bitcoin and Ether’s combined performance, as well as staking reward associated with Ether.
Also Read: Are We At The Bottom As Bitcoin Nears Undervalued Levels?
Steve Neamtz is the President of Yorkville America Equities. “We are excited to launch our initial two Digital/Crypto offerings under Truth Social ETFs. In partnership with Crypto.com, we plan to provide an investment platform for investors covering multiple aspects of digital and crypto investing with both capital appreciation and income opportunities.”
“We are pleased to be selected to provide digital asset custody, liquidity, and staking services for these new Truth Social Funds ETFs,” Kris Marszalek Cofounder and Chief Executive Officer of Crypto.com. “These two digital asset ETFs have a strong value proposition that Crypto.com is supportive of and look forward to providing traders access to.”
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
