NYSE Arca, which is part of the New York Stock Exchange, has filed paperwork with the Securities and Exchange Commission (SEC) to launch a fund issued by U.S. President Donald Trump’s media company Truth Social.
On Tuesday, the exchange filed a 19b-4 document with the SEC for a fund that would track the price of bitcoin
, similar to the already existing spot bitcoin exchange-traded funds (ETFs).
The filing was made on behalf of crypto asset manager Yorkville America Digital, which is a partner of Trump Media & Technology Group, the owner of Truth Social.
The custodian for the fund, if approved, would be Foris DAX Trust Company, which also serves as the custodian for Crypto.com’s assets.
A 19b-4 filing is required to be filed by self-regulatory organizations (SROs) to propose a rule change. A second document by the issuer, called the S-1, is also required to make the proposal official.
The fund would trade under the name Truth Social Bitcoin ETF, according to the filing.
