“Truth Social Bitcoin ETF, B.T. is a Nevada business trust that issues beneficial interests in its net assets,” stated the Form S-1. “The assets of the Trust consist primarily of bitcoin held by a custodian on behalf of the Trust. The Trust seeks to reflect generally the performance of the price of bitcoin.”

The Trump Media and Technology Group (TMTG) formally registered its Truth Social Bitcoin and Ethereum ETF as a domestic business trust in Nevada, hinting at a dual asset focus in the future. The TMTG has yet to file official documents with the Securities and Exchange Commission.