NYSE files proposed rule change to list Trump's Truth Social ETF tracking bitcoin and ether

The New York Stock Exchange has filed a proposed rule change for an exchange-traded fund tracking the prices of bitcoin and ether, issued by Truth Social, a social media platform operated by Trump Media Technology Group.

In a 19b-4 form filed with the Securities and Exchange Commission on Tuesday, NYSE Arca proposed a rule change to list and trade the Truth Social Bitcoin and Ethereum ETF, which is a "passive investment vehicle that seeks to reflect generally the performance of the price of bitcoin and ether."

The latest filing followed the company's  filing of the ETF  prospectus last week. The prospectus specified that the holdings ratio is initially expected to be a three-to-one ratio of the value of bitcoin to the value of ether.

The sponsor of the ETF is Yorkville America Digital, and the custodian for its bitcoin and ether is Foris DAX Trust Company, according to the filing.

The bitcoin-ether ETF isn't the only product Trump Media is planning. Earlier this month, NYSE Arca filed the 19b-4 form for the Truth Social Bitcoin ETF , which is set to invest its assets exclusively in bitcoin.

The potential ETFs would add to Trump Media's grand crypto ambition. The company said Monday that it plans to repurchase up to $400 million worth of shares, and last month announced a $2.32 billion private placement offering to fund the establishment of a bitcoin treasury.