Truth Social Withdraws Three Crypto ETF Applications

Odaily Planet Daily News Yorkville America, the asset management company behind Trump-affiliated Truth Social, has announced the withdrawal of three previously submitted crypto ETF applications to the SEC. These applications involved the Truth Social Bitcoin ETF, a Bitcoin and Ethereum ETF, and a crypto blue-chip ETF.

The company stated that it will shift from the framework of the Securities Act of 1933 to the Investment Company Act of 1940, aiming to offer more innovative products with stronger investor protections and tax advantages. However, it did not explicitly state whether it would continue to pursue crypto ETFs under the new framework. (cointelegraph)