The Truth Social operator, Trump Media and Technology Group Corp, has taken a significant step towards listing the Truth Social Bitcoin and Ethereum ETF on NYSE Arca by filing a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC).
The proposed ETF, which would be traded under the ticker symbol B.T., is designed to hold 75% of its assets in Bitcoin and 25% in Ethereum. This would provide investors with a simplified way to gain exposure to the two largest digital assets by market capitalization through a single investment vehicle.
The product is structured as a commodity-based trust, with Yorkville America Digital as the sponsor and Foris DAX Trust Company, an affiliate of Crypto.com, acting as the custodian for both Bitcoin and Ethereum. The ETF aims to offer retail and institutional investors access to the spot markets for these cryptocurrencies through traditional brokerage platforms.
This recent Form 19b-4 filing follows Trump Media’s earlier announcement on June 16 that it had submitted a registration statement on Form S-1 with the SEC. While the S-1 covers the necessary disclosure and structural details for a public offering, the 19b-4 is a procedural step seeking regulatory approval for the ETF to be listed and traded on a national securities exchange.
The filing reiterates key elements outlined in the S-1, including the fund’s passive investment strategy and the use of CME CF benchmark reference rates to calculate net asset value. The Bitcoin and Ethereum holdings will be stored in cold storage by Foris DAX Trust Company, a Crypto.com affiliate, which will also provide custody, execution, staking, and liquidity services for the fund.
With the submission of the 19b-4, the SEC will now begin its formal review process, which can take up to 240 days for a final decision. The demand for crypto ETFs in the U.S. has been significant, prompting Trump Media to put forward its second offering. The earlier proposal, filed on June 3 via NYSE Arca, focuses on the Truth Social Bitcoin ETF, which is solely focused on Bitcoin and uses the same sponsor and custodian as the dual-asset fund.
As of now, the Truth Social Bitcoin ETF is still under SEC review, with a final decision expected by Jan. 29, 2026, if all extensions are utilized. Overall, these developments signal a growing interest in cryptocurrency investment products and a potential avenue for investors to gain exposure to the digital asset market through regulated and traditional channels.