NEW YORK – Trump Media and Technology Group has taken a significant step into the cryptocurrency market by filing with the U.S. Securities and Exchange Commission (SEC) to launch a dual Bitcoin and Ethereum Exchange-Traded Fund (ETF) under its Truth Social brand.
Immediate Impact
The filing, made in collaboration with Yorkville America Digital and Crypto.com, marks Trump Media’s continued expansion into the digital currency space. It proposes a holdings ratio of 75% Bitcoin and 25% Ethereum, with Crypto.com set to serve as the custodian, execution agent, and liquidity provider.
“The launch of the Truth Social Bitcoin and Ethereum ETF is pending effectiveness of the registration statement as well as approval of a Form 19b-4 filing with the SEC. Upon launch, the shares will be listed on NYSE Arca,” a statement from Trump Media reads.
Key Details Emerge
This move follows a previous filing by Trump Media and Yorkville for a standalone Bitcoin ETF in early June, known as the Truth Social Bitcoin ETF. Both funds are registered as Nevada business trusts, a departure from the Delaware statutory trust format commonly used by ETFs.
In addition to these filings, the partnership aims to introduce a suite of “America First” products, including the America First Bitcoin Fund, America First Blockchain Leaders Fund, and the America First Stablecoin Income Fund. However, only the Truth Social Bitcoin ETF and the dual Bitcoin and Ethereum ETF have been formally filed with the SEC so far.
Industry Response
The announcement comes as Trump Media recently raised $2.4 billion to establish a Bitcoin treasury, although no Bitcoin acquisitions have been announced yet. The firm’s aggressive push into crypto aligns with a broader trend of increasing institutional interest in digital currencies.
By the Numbers
- $2.4 billion raised by Trump Media for Bitcoin treasury
- 75% Bitcoin and 25% Ethereum proposed holdings ratio
- $57 million earned by President Trump from World Liberty Financial
Background Context
This development builds on Trump Media’s existing ventures, which include the social media platform Truth Social, streaming service Truth+, and financial technology brand Truth.Fi. The company has hinted at launching its own digital wallet and token in the near future.
Meanwhile, President Trump’s family has been actively involved in various cryptocurrency projects. Notably, the President launched an official meme coin on the Solana blockchain in January, and his sons Eric and Donald Jr. have backed Bitcoin mining ventures and other crypto initiatives.
What Comes Next
The timing is particularly significant because the SEC’s decision on this ETF could influence broader acceptance and regulatory approaches to cryptocurrency investments in the United States. As Trump Media awaits SEC approval, the potential launch of these ETFs could bolster the company’s position as a key player in the digital asset market.
According to sources familiar with the matter, the approval process may take several months, but Trump Media and its partners remain optimistic about the prospects of their crypto-focused financial products.
Shares of Trump Media and Technology Group, trading under the ticker DJT, are currently down nearly 2% to $19.18, reflecting market reactions to the latest developments.