Yorkville launches FRUT AI ETF after dropping crypto ETF plans

Yorkville America has launched the MANGOS Plus Index ETF (FRUT), signaling a pivot from crypto toward artificial intelligence after Truth Social withdrew crypto ETF registrations in May. The new fund focuses on AI hardware and platform infrastructure, offering a single-ticket way for investors to access the AI theme and tracking an index that includes major AI players. The move follows Yorkville’s prior role as an advisor to Truth Social Funds, and the firm notes the change is facilitated by adopting a 1940 Act structure rather than the 1933 framework used for crypto assets. FRUT’s design incorporates exposure to private AI entities through perpetual futures, and the firm emphasizes broader product expansion beyond Truth Social, including plans for additional ETFs and an acquisition aimed at diversifying its asset-management capabilities. Yorkville has signaled a strategic shift toward AI and broader growth, positioning FRUT as its first product outside the Truth Social brand and setting the stage for a broader lineup in coming months.