The New York Stock Exchange (NYSE) has submitted a proposed rule change to the U.S. Securities and Exchange Commission (SEC) that would permit listing of a new cryptocurrency exchange-traded fund (ETF) issued by Trump Media & Technology Group (TMTG). The Truth Social ETF is designed to track the performance of both Bitcoin and Ethereum.
The filing, made via the SEC’s 19b-4 form, follows closely on the heels of TMTG’s prospectus submission just eight days earlier. The proposed ETF would maintain a 75% allocation to bitcoin and a 25% allocation to ether, offering investors exposure to both of the largest digital assets.
According to the SEC filing, the NYSE maintains that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices, affirming that the ETF will comply with all applicable initial and continued listing requirements on the exchange. The latest filing followed the company’s filing of the ETF prospectus last week.
Although it does not ensure SEC approval, the 19b-4 process is an important procedural step in the regulatory path for crypto ETFs. Nevertheless, the submission highlights a developing change in the laws governing digital assets. Under the current administration, the SEC has adopted a more crypto-friendly stance, driven in part by the appointment of pro-crypto officials by President Donald Trump.
This proposed bitcoin-ether fund is the second such product from Trump Media and Yorkville America, which previously collaborated on the Truth Social Bitcoin ETF, filed in early June.
TMTG, Yorkville, and Crypto.com are allegedly developing a number of “America First” cryptocurrency investment vehicles in addition to these filings. The America First Stablecoin Income Fund, the America First Blockchain Leaders Fund, and the America First Bitcoin Fund are a few of these.
TMTG has stepped up its efforts to expand its investment product portfolio in the digital asset space, as per both filings.
Also read: Trump’s Truth Social Files S-1 for Bitcoin ETF with SEC
