SEC Considers Truth Social, Bitcoin, and Ethereum ETF Application

The U.S. Securities and Exchange Commission (SEC) officially recognized the Truth Social application for a Bitcoin and Ethereum ETF, which sets the official review process in motion that may grant or deny the request.

Under Trump Media & Technology Group, the ETF would be traded on NYSE Arca and would have 75% exposure to Bitcoin (BTCUSD) and 25% to Ether (ETHUSD).

ETF Composition and Important Points

As per the filing, Yorkville America Digital will manage the crypto ETF, while Foris DAX Trust Company (Crypto.com) will be the custodian.

The Bitcoin component will be valued via the CME CF Bitcoin Reference Rate, which pools prices from a selection of prominent crypto exchanges. Ether's value, on the other hand, will be based on the Ether CME CF Reference Rate, unless otherwise decided by the sponsor.

The fund will hold cold storage custody of Bitcoin and Ether in distinct wallets, apart from other customer funds.

Truth Social's S-1 was originally filed on June 16, marking its intent to join the competitive and expanding crypto ETF market.

Truth Social ETF Gives Momentum to SEC's Crypto Review
The ETF filing comes during a wider wave of crypto ETF filings, leading the SEC to look at making the process more efficient with a less burdensome listing mechanism for digital asset ETFs.

This marks the agency's increasing exposure to crypto-led financial products despite its conservative approach to regulation.

SEC Postpones Ruling on Fidelity's Solana ETF

In concurrent developments, the SEC has again postponed a decision on Fidelity's proposed Solana (SOL) spot ETF.

Initially submitted on March 25 via the Cboe BZX Exchange, the proposal now begins a new public comment period—21 days of comments, 35 days of rebuttals.

Bloomberg ETF analyst James Seyffart commented via X (formerly Twitter) that the delay was “expected,” emphasizing that this step doesn’t indicate rejection but rather ongoing dialogue between issuers and regulators.

“We’re still waiting for some sort of movement from the SEC on a generalized digital asset ETP framework,” he wrote.

SEC Movement Shows Signs of Openness

Seyffart continued that the SEC also recently directed SOL ETF issuers to modify and resubmit their filings by month's end—a development interpreted as positive interaction instead of total rejection.

"Any type of dialogue between SEC and issuers should be looked at in a good light," Seyffart said, adding that this to-and-fro process constitutes genuine strides in crypto ETF regulation.

Keep current with the most recent news on Bitcoin ETFs, Ethereum funds, and SEC crypto policies as digital assets continue to make inroads into mainstream finance.

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