Authored by Helen Partz via CoinTelegraph.com,

US President Donald Trump’s social media platform, Truth Social, filed an S-1 form with the US Securities and Exchange Commission to launch a dual exchange-traded fund (ETF) for Bitcoin and Ether.

Filed on Monday, the S-1 form proposes the issuance and trading of Truth Social Bitcoin and Ethereum ETF, sponsored by the asset management firm Yorkville America Digital.

Details from the title page of the Truth Social Bitcoin and Ethereum ETF. Source: SEC

The trust seeks to provide investors with exposure to both Bitcoin and Ether by offering shares backed by the crypto assets, removing the complexities stemming from direct investment.

The shares are backed by BTC and ETH held by the custodian on behalf of the trust, Foris DAX Trust Company, doing business as Crypto.com, the prospectus reads.

Ticker and cash custodian to be disclosed

The ETF shares are proposed to be listed on the New York Stock Exchange Arca (NYSE Arca), according to the filing.

While Truth Social has officially determined that Crypto.com will be its dedicated crypto custody provider, the company is yet to finalize the details of the upcoming ETF, such as the fund’s ticker and its cash custodian.

An excerpt from the proposed Truth Social Bitcoin and Ethereum ETF. Source: SEC

Truth Social also mentioned that it plans to file an amendment later with a summary of the terms of the prime execution agency agreement with Crypto.com.

SEC approves Trump Media’s Bitcoin treasury registration

The filing for the Truth Social Bitcoin and Ethereum ETF follows the approval of Trump Media and Technology Group’s $2.3 billion Bitcoin treasury deal by the SEC on Friday.

In the statement, the company said that it currently has “no immediate plans” to issue any securities under the deal.

TMTG previously confirmed a $2.5 billion capital raise to purchase Bitcoin in late May, after initially denying such reports.

CoinShares files for Solana spot ETF

Truth Social’s Bitcoin and Ether ETF filing arrived on the same day as a new S-1 filing by CoinShares, which proposed the issuance of a Solana spot ETF.

Already operating an exchange-traded product (ETP) called CoinShares Physical Solana Staked ETP in Europe, CoinShares is now seeking to launch a similar ETF product in the US.

According to Bloomberg’s senior ETF analyst Eric Balchunas, there are now up to eight Solana spot filings under the SEC’s consideration.

Source: Eric Balchunas

As of Friday, seven issuers filed initial S-1 registration statements for Solana spot ETFs, including Fidelity Investments, 21Shares, Franklin Templeton, Grayscale Investments, Bitwise Investments, Canary Capital and VanEck.

According to Bloomberg ETF analyst James Seyffart, a Solana ETF approval is unlikely to happen this week.