Trump media Truth Social submitted an application for the "Truth Social Crypto Blue Chip ETF" to the U.S. Securities and Exchange Commission (SEC) on July 8, planning to track a variety of mainstream currencies and aiming to be listed on the New York Stock Exchange (NYSE Arca).
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ToggleTruth Social submits ETF application to SEC
According to the registration documents, Truth Social said it will launch an ETF that tracks five major cryptocurrencies (BTC, ETH, SOL, CRO, XRP). The following is the investment proportion of the major cryptocurrencies:
This ETF is sponsored by Yorkville America Digital, an American asset management company, and is established in Nevada in the form of a "commercial trust". The crypto assets in the ETF will be kept by a designated custodian. Any future adjustments to the currency or ratio must be made through an agreement amendment and approved by the regulatory authority.
ETF avoids CFTC jurisdiction and targets NYSE listing
Truth Social pointed out in the document that this ETF will not be registered as a "registered investment company" or classified as a "commodity pool" and is therefore not subject to the regulation of the U.S. Commodity Futures Trading Commission (CFTC).
The ETF will be issued and redeemed through "authorized securities firms" in blocks of 10,000 shares each time, which will help prevent the ETF price from being decoupled from the currency price.
Truth Social said the ETF is expected to be listed on the New York Stock Exchange (NYSE Arca) once it passes regulatory review.
The Trump family is actively expanding its crypto footprint, but whether it will take advantage of the situation to make a profit remains to be seen
Truth Social submitted another S-1 document to the SEC on June 16, mainly to apply for a spot ETF that tracks both BTC and ETH.
This dual-currency ETF is custodianed by Crypto.com, with an asset allocation of 75% BTC and 25% ETH, with the goal of allowing investors to access the two major currencies through an ETF. The SEC also officially accepted the ETF application on July 7 and began the review process.
Overall, the Trump family and its companies are actively expanding their crypto territory, but whether it involves "taking advantage of the situation for profit" still needs to be evaluated by regulators and the market.
Risk Warning
Cryptocurrency investment carries a high degree of risk. Its price may fluctuate drastically and you may lose all your capital. Please assess the risk carefully.
As the Japanese version of MicroStrategy Metaplanet has achieved its 10,000 Bitcoin reserve goal ahead of schedule, the company plans to use BTC as a financial lever in the second phase of its strategy to further acquire digital banks that can generate stable cash flow. With its market value and popularity rising, Metaplanet has become a representative Bitcoin company in the Japanese capital market.
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ToggleMetaplanet embraces Bitcoin gold rush: target 210,000 BTC
Metaplanet CEO Simon Gerovich recently said in an interview with the Financial Times that now is the "gold rush era for Bitcoin" and companies are accelerating their purchases of Bitcoin:
We need to accumulate as much Bitcoin as possible to reach a height that is difficult for others to catch up.
Gerovich stated that his goal is to hold 210,000 BTC by 2027, which is about 1% of the total global supply. The company currently holds 15,555 BTC , with an average purchase price of $98,582. This week alone, Metaplanet has increased its holdings by 2,205 BTC for $237 million, showing its high confidence in the long-term value of Bitcoin.
( Metaplanet bought more Bitcoin, BTC reached 13,350 and ranked fifth in the world )
BTC as collateral becomes a new leverage for digital bank mergers and acquisitions
Meanwhile, Metaplanet’s strategy is not limited to hoarding coins, but also plans to use Bitcoin as a leverage tool to obtain cash for physical mergers and acquisitions. Gerovich pointed out that the second phase of the plan is to use BTC as collateral, like government bonds or stocks, in exchange for funds to acquire companies that can bring in cash flow.
We might acquire a digital bank in Japan and offer an even better service experience than they currently offer.
He also ruled out issuing convertible bonds, but was open to raising preferred stock: "I don't want to have to pay back money based on the share price in three or four years."
Even though loans secured by cryptocurrencies are still rare in the traditional banking industry, some institutions have begun to explore this area. JPMorgan Chase, Standard Chartered Bank and the Federal Housing Finance Agency (FHFA) are considering including assets such as cryptocurrencies and ETFs as risk assessment conditions for lending.
The stock price tripled in half a year, and the trading volume surpassed Toyota and Sony
As its Bitcoin strategy unfolds, Metaplanet's share price ( TYO: 3350 ) has soared nearly 330% this year, with a market value exceeding 1 trillion yen (about US$6.8 billion).
Reuters reported that Metaplanet's stock trading volume in June reached 1.87 trillion yen, doubling from May, surpassing Japanese stock giants such as Toyota's 1.64 trillion and Sony's 1.31 trillion yen, and firmly sitting first in the Tokyo Stock Exchange's standard market. It can be seen that the "Bitcoin concept" craze has attracted retail and institutional investors to rush in and become the focus of the market.
In addition, according to a recent report released by Mizuho Securities , Metaplanet is expected to be included in the FTSE Japan Index in September this year, attracting more ETF and passive fund buying.
From hotelier to Japanese version of MicroStrategy: Metaplanet successfully resurrected
Metaplanet's Bitcoin route is not only an asset management method, but also a corporate transformation strategy. From raising funds to hoarding coins, leveraged lending, to mergers and acquisitions, the company has undoubtedly successfully transformed from a previously bleak hotel operator to creating a Japanese version of MicroStrategy, and is expected to embark on a unique path of crypto-financial innovation.
Risk Warning
Cryptocurrency investment carries a high degree of risk. Its price may fluctuate drastically and you may lose all your capital. Please assess the risk carefully.
Tether, the well-known stablecoin USDT issuer, revealed in an exclusive interview with Bloomberg on July 8 that it has built its own vault in Switzerland and has a gold reserve of up to 80 tons with a total value of approximately US$8 billion. On the same day, Tether also announced that it will make a strategic investment in Crystal Intelligence, an on-chain analysis company, and assist in law enforcement, combat crypto fraud, and maintain on-chain ecological security.
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ToggleTether builds its own vault in Switzerland, claims to have 80 tons of gold reserves
Paolo Ardoino, CEO of Tether, said in an interview:
"We have our own gold vault in Switzerland, which I believe is the safest in the world. Our own gold reserves are as high as 80 tons, with a total value of US$8 billion."
However, due to security considerations, Ardoino did not disclose the specific location and when it would be opened.
If calculated based on the gold price at press time (about $3,301 per ounce), Tether's total gold reserves have reached $8.49 billion. However, according to Tether's 2025 Q1 forensic report , Tether's total gold reserves are $6.6 billion, which is still some distance away from the $8.49 billion calculated by the author. The exact data may need to wait for the subsequent financial report to be released before it can be known.
Gold is safer than fiat currency, and building your own vault can reduce long-term storage costs
Ardoino stressed that gold should logically be safer than any fiat currency. Assuming the market begins to worry about the worsening of the US debt problem, it will further push up the safe-haven demand for gold. He also added:
"Every BRICS central bank is buying gold right now, so we think that's the main reason for the rise in gold prices."
Why build your own vault? Ardoino said:
“If our gold tokens are issued to the tune of $100 billion one day, the custody fee alone will be hundreds of millions of dollars a year, so it is more cost-effective to keep them ourselves.”
Gold stablecoin XAUT, redeemable for physical gold
Tether previously launched the gold-pegged stablecoin XAUT, and each XAUT corresponds to one ounce of physical gold at a 1:1 ratio. According to Tether's official documents , if a user holds a sufficient amount of XAU₮, they must complete KYC/AML verification and relevant logistics arrangements before they can apply to redeem physical gold bars.
Currently, XAUT supports approximately 7.7 tons (246,524 ounces) of gold, with a market value of approximately US$811 million.
Announced strategic investment in on-chain analytics provider Crystal Intelligence to maintain on-chain security
On the same day that Tether was interviewed, it also officially announced that it would invest in on-chain analysis company Crystal Intelligence to further combat criminals using stablecoins to engage in criminal activities.
Crystal Intelligence focuses on risk monitoring and fraud detection. The two parties have jointly launched the fraud monitoring platform Scam Alert , which can instantly reveal suspicious wallet addresses. Tether said that it has assisted 255 law enforcement agencies around the world in freezing more than US$2.7 billion in illegal funds. This capital injection is mainly to expand the scale of cooperation and strengthen compliance and investigation tools, with the core goals of combating crypto crimes, strengthening international law enforcement cooperation, and promoting the healthy development of the industry.
Risk Warning
Cryptocurrency investment carries a high degree of risk. Its price may fluctuate drastically and you may lose all your capital. Please assess the risk carefully.
