Yorkville America, which manages the Truth Social brand ETF, is nearing completion of an acquisition of an institutional asset management company, with the deal expected to close in September. The goal is to reduce reliance on politically themed ETFs.

Steve Neamtz, CEO of Yorkville America, stated that the target primarily operates independent managed accounts, providing customized portfolios for individual investors; the parties are in the final stages of the transaction but have not disclosed the name of the target, transaction price, financing sources, assets under management, retention team arrangements, or closing conditions. Neamtz joined Yorkville in December 2025.

The company plans to launch the Yorkville America MANGOS Plus Index ETF on Monday, with the ticker FRUT, listed on NYSE Arca and NYSE Texas. This product is Yorkville's first ETF not managed under the Truth Social brand, indicating the company's expansion of its product line from the "America First" theme to include AI, digital economy, and macro strategies.

FRUT tracks the Yorkville America MANGOS Plus Index, with core holdings in six "MANGO" companies: Meta, Nvidia, Alphabet, SpaceX, OpenAI, and Anthropic; it also includes seven AI hardware and infrastructure companies: SanDisk, Marvell, Micron, Intel, Dell, AMD, and Broadcom. The fund adjusts its stock basket quarterly and manages liquidity monthly, with an expense ratio of 0.50%.

Since OpenAI and Anthropic are not publicly listed, the fund will not directly hold shares of these two companies but will obtain price exposure through perpetual futures linked to them; the announcement also states that private securities and total return swaps may be used. Perpetual futures have no expiration date, but details regarding the trading counterparties, price anchoring methods, liquidity sources, collateral arrangements, and unusual valuation handling mechanisms have not been disclosed.

Neamtz referred to FRUT as the inaugural product in Yorkville's digital assets and crypto product category; the company has submitted applications to launch about 12 additional ETFs in the coming weeks to months, covering themes in the digital economy and macro strategies. Public materials define FRUT as a one-stop configuration for AI platforms and hardware layers, but it does not disclose whether the fund directly holds Bitcoin, Ethereum, or other crypto assets.

Mechanically, FRUT packages the price risks of publicly traded AI stocks, private model companies, and hardware supply chains into a single trading instrument: when funds buy the ETF, the public stock basket can meet direct subscription demand, while the price exposure to OpenAI and Anthropic is handled by perpetual futures, swaps, or private securities. If AI valuations rise, Nvidia, Meta, Alphabet, and semiconductor infrastructure will benefit; if the valuations of private companies, derivative liquidity, or counterparty credit change, the fund's net asset value may diverge from investors' intuitive valuations of unlisted companies. Acquiring an independent managed account institution could bring Yorkville customized account clients, advisory distribution, and more stable management fee income, but integration costs and compliance responsibilities will also rise.

Source: Public Information