Truth Social Funds announced this week that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for two exchange-traded funds: the Truth Social Cronos Yield Maximizer ETF and the Truth Social Bitcoin and Ether ETF.
In connection with the proposed funds, Truth Social Funds is partnering with Crypto.com, which is expected to serve as the digital asset custodian, the liquidity provider, and the staking services provider for the ETFs, subject to regulatory approval. The ETFs will be able to be purchased through Crypto.com’s broker-dealer, Foris Capital US LLC.
The Truth Social Cronos Yield Maximizer ETF is designed to seek investment results corresponding to the performance of CRO, the native cryptocurrency of the Cronos ecosystem, plus staking rewards associated with the asset. The Truth Social Bitcoin and Ether ETF is designed to seek investment results corresponding to the combined performance of Bitcoin and Ether, plus staking rewards associated with Ether.
Both funds will be advised by Yorkville America Equities, LLC, and are expected to carry a management fee of 0.95%.
Steve Neamtz, president of Yorkville America Equities, stated,
“We are excited to launch our initial two Digital/Crypto offerings under Truth Social ETFs. In partnership with Crypto.com, we plan to provide an investment platform for investors covering multiple aspects of digital and crypto investing with both capital appreciation and income opportunities.”
“We are pleased to be selected to provide digital asset custody, liquidity, and staking services for these new Truth Social Funds ETFs,” said Kris Marszalek, co-founder and CEO of Crypto.com. “These two digital asset ETFs have a strong value proposition that Crypto.com is supportive of and look forward to providing traders access to.”
The registration statement is subject to SEC review and has not yet become effective. Securities described in the prospectus may not be sold, nor may offers to buy be accepted, prior to the registration statement becoming effective.
