Yorkville America Expands into Broader Asset Management Platform with AI-Focused Launch

Yorkville America, the firm behind President Donald Trump's Truth Social ETFs, is expanding its asset management platform through a new deal and AI-focused launch. The firm plans to acquire an institutional asset manager focused on separately managed accounts.

The acquisition is expected to close in September, according to Yorkville CEO Steve Neamtz. This move marks the beginning of Yorkville's transition into a broader asset-management platform.

Yorkville has already launched its first ETF outside the Truth Social brand, the FRUT (NYSE: FRUT), which combines AI platform companies with semiconductor and hardware firms that support the technology buildout. The fund focuses on the MANGOS group of Meta Platforms, Inc (NASDAQ:META), Alphabet Inc (NASDAQ:GOOGL), Nvidia Corp (NASDAQ:NVDA), SpaceX (NASDAQ:SPCX), Anthropic and OpenAI.

Yorkville's filings also show a growing focus on the picks-and-shovels side of the AI boom, including memory. The firm has registered the Next Generation Memory ETF and includes names such as Micron Technology, Inc (NASDAQ:MU) and SanDisk Corp (NASDAQ:SNDK).