The fund will invest in cryptocurrency. According to documents on the U.S. Securities and Exchange Commission (SEC) website, three-quarters of the portfolio will be allocated to Bitcoin, while a quarter will be in Ethereum.
Crypto.com will be the sole custodian in the Bitcoin market.
The fund requires regulatory authorization to begin operations. If approved, shares of the Truth Social Bitcoin and Ethereum ETF will be traded on NYSE Arca.
In late May, TMTG announced plans to raise approximately $2.5 billion to purchase Bitcoin.
source: bloomberg.com
