NYSE Arca has submitted a 19b-4 filing to the Securities and Exchange Commission (SEC) regarding a spot Bitcoin ETF being initiated by Truth Social, the media company owned by U.S. President Donald Trump. The filing indicates that the fund, if approved, will track the price of Bitcoin, which is currently at $105,657.99. This fund is being proposed in partnership with Yorkville America Digital, a crypto asset manager, and would utilize Foris DAX Trust Company as the custodian, which also manages assets for Crypto.com. This move highlights the growing interest in Bitcoin ETFs, mirroring other similar existing products. The next step in the approval process requires an additional S-1 document, and the ETF would operate under the name ‘Truth Social Bitcoin ETF.’ The introduction of this ETF could impact Bitcoin’s market dynamics, sparking renewed enthusiasm among investors and traders alike.
Truth Social Plans to Launch Spot Bitcoin ETF in Partnership with NYSE Arca
Donald Trump's social media company, Truth Social, is set to launch a spot Bitcoin ETF in collaboration with NYSE Arca, pending SEC approval.
Jamie Bennett
Crypto Analyst
4 min read
23,922
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
BTC
BTC
BUY
Entry Price
$105657.99
Confidence
80%
Stop Loss
$103000
Take Profit
$110000 - $115000
The news of a new Bitcoin ETF launch creates bullish sentiment for BTC prices, warranting a buy.
