Trump Media and Technology Group (DJT) has taken a significant step by filing to launch a Bitcoin and Ethereum exchange-traded fund (ETF) for its social media platform, Truth Social. According to a recent filing with the Securities and Exchange Commission (SEC), the proposed ETF will allocate 75% of its capital to Bitcoin and 25% to Ethereum.
In collaboration with Singapore-based exchange Crypto.com, which will serve as the ETF’s custodian and liquidity provider, the fund is positioned to enter an increasingly crowded market of crypto ETFs. Earlier in the month, Trump Media expressed its intention to issue a standalone registration for a spot Bitcoin ETF, signifying a strategic move into the cryptocurrency sector.
The addition of Ethereum aligns with the Trump family’s previous investments in digital assets, particularly through World Liberty Financial, a decentralized finance project backed by the family, which reportedly holds 96% of its assets on the Ethereum blockchain, as highlighted by Arkham data.
If approved, this ETF would join a growing list of crypto investment products, including those from financial giants like BlackRock, Grayscale, Fidelity, and Franklin Templeton, which collectively manage around $131 billion in Bitcoin ETFs alone. This development is indicative of the expanding acceptance and integration of cryptocurrency into mainstream financial products.
The prospective ETF reflects a broader acceptance of cryptocurrency within traditional finance and could potentially provide investors with more accessible options to participate in this burgeoning market.