NYSE Arca has taken a significant step by submitting a rule change proposal (SR-NYSEArca-2025-45) to the U.S. Securities and Exchange Commission (SEC), aimed at securing approval for the listing of the Truth Social Bitcoin and Ethereum ETF.
This newly proposed dual-asset fund, introduced last week by Trump Media & Technology Group (TMTG), is designed to provide investors with direct access to both Bitcoin and Ether, all within a single investment framework.
Source: NYSE
The proposal, submitted through SEC Form 19b-4, follows the submission of the ETF’s initial prospectus, which recommended a 3-to-1 allocation favoring Bitcoin over Ether.
Should the SEC grant approval, the ETF would operate under NYSE Arca Rule 8.201-E, which is applicable to commodity-based trust shares.
NYSE Seeks Rule Change to List Trump Media’s Bitcoin-Ethereum ETF
The filing outlines that the fund is sponsored by Yorkville America Digital, LLC, with custody of digital assets managed by Foris DAX Trust Company.
Importantly, the ETF will feature pricing transparency through benchmark rates provided by CF Benchmarks, a recognized provider for other SEC-approved ETFs.
Additionally, the fund will publish its daily Net Asset Value (NAV), total holdings, and intraday indicative values, with updates occurring every 15 seconds during trading hours.
Trump Media filed with the SEC to launch a Bitcoin and Ethereum ETF, while the Trump Organization unveiled a $499 U.S.-made smartphone.#trump #etfhttps://t.co/tFTibnN0lg
— Finance Newso.com (@Finance Newso) June 16, 2025
The fund will utilize an in-kind creation and redemption process, allowing transactions in blocks of 10,000 shares through authorized participants. This approach facilitates the direct exchange of Bitcoin and Ether, thereby minimizing tax implications and enhancing pricing efficiency.
In compliance with SEC standards for investor protection, NYSE Arca highlighted its membership in the Intermarket Surveillance Group (ISG) and its reliance on market data from CME’s Bitcoin and Ether futures markets to ensure pricing integrity and fraud detection.
Moreover, the exchange reiterated its ability to implement existing market safeguards, including trading halts and compliance monitoring, to identify and prevent potential fraud or manipulation within the cryptocurrency markets.
The proposed rule amendment will undergo a formal review process by the SEC. Once published in the Federal Register, the agency will allow a comment period before deciding whether to approve, reject, or extend its review period.
If approved, the Truth Social Bitcoin and Ethereum Trust could become one of the first U.S.-listed ETFs offering simultaneous exposure to both Bitcoin and Ether, following the SEC’s previous approvals of individual Bitcoin or Ethereum ETFs from firms like BlackRock and Fidelity.
Trump Media Expands with Crypto ETF Ambitions
Trump Media is moving closer to launching its Truth Social Bitcoin ETF, but the fund faces steep competition and trust hurdles in a crowded market.#TruthSocial #BitcoinETF https://t.co/oBIWgcH4CX
— Finance Newso.com (@Finance Newso) June 4, 2025
This initiative is part of a broader push, as NYSE Arca recently also filed to list a Bitcoin-only ETF under the Truth Social brand. Both products are integral to Trump Media’s expansion into the digital assets sector.
@TrumpMediaTech has unveiled a $400M stock buyback and maintains a $2.3B Bitcoin reserve. #TrumpMedia #Bitcoinhttps://t.co/oCc9eMHuSo
— Finance Newso.com (@Finance Newso) June 23, 2025
The company has disclosed plans to repurchase up to $400 million of its shares and has raised approximately $2.32 billion through a private placement to establish a Bitcoin treasury. As of late May, total funds raised reached $2.4 billion, although no specific acquisitions have been reported.
Trump Media, which operates the Truth Social platform, the streaming service Truth+, and the fintech brand Truth.Fi, is also exploring additional funds such as the America First Bitcoin Fund and the America First Stablecoin Income Fund.
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