Truth Social ETF Operator Yorkville America to Acquire Asset Management Firm and Launch New ETF

Yorkville America CEO Steve Neamtz revealed that the company is nearing the completion of an acquisition of an asset management firm focused on independent managed accounts, with the deal expected to close in September. This acquisition will serve as a cornerstone for the company's strategic growth, helping Yorkville expand from the Truth Social series of funds into a broader product line. Yorkville will launch the MANGOS Plus Index ETF on Monday, which will be the first fund not using the Truth Social brand, and it will be listed on the NYSE and NYSE Texas. The index tracked by this fund includes six companies from MANGOS (Meta, Anthropic, Nvidia, Alphabet, OpenAI, SpaceX), along with other AI-related stocks such as Micron and SanDisk. Since both Anthropic and OpenAI are private companies, the fund will gain price exposure to these two companies through perpetual futures contracts with no expiration date. Neamtz stated that this will be the company's first issuance in the digital and cryptocurrency product sector. Currently, Yorkville has submitted around a dozen ETF issuance applications, covering funds related to the digital economy and macro strategy products.

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