Truth Social withdraws applications for three crypto ETFs
According to Odaily, Yorkville America, the asset management company behind Trump's Truth Social, has announced the withdrawal of its previous three crypto ETF applications submitted to the SEC, involving the Truth Social Bitcoin ETF, Bitcoin and Ethereum ETF, and Crypto Blue Chip Stocks ETF.
The company stated that it will shift from the Securities Act of 1933 framework to the Investment Company Act of 1940 framework to offer more innovative products and enjoy stronger investor protection and tax advantages, but it did not specify whether it would continue to advance crypto ETFs under the new framework. (cointelegraph)
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