TechFlow News, May 20: According to Cointelegraph, Yorkville America—the asset management firm behind Trump’s Truth Social—announced the withdrawal of its three previously filed cryptocurrency ETF applications with the U.S. Securities and Exchange Commission (SEC). The withdrawn applications covered the Truth Social Bitcoin ETF, the Bitcoin and Ethereum ETF, and the Crypto Blue-Chip ETF. The company stated it will shift from the regulatory framework of the Securities Act of 1933 to that of the Investment Company Act of 1940 to offer more innovative products with enhanced investor protections and tax advantages. However, it did not clarify whether it intends to pursue cryptocurrency ETFs under the new framework.
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