On Monday, Trump Media and Technology Group (DJT) submitted a filing to the Securities and Exchange Commission (SEC) to launch a Truth Social exchange traded fund (ETF) focused on Bitcoin and Ethereum. The proposed ETF aims to allocate 75% of its capital to Bitcoin and the remaining 25% to Ethereum, managing both cryptocurrencies directly.
Crypto.com, a cryptocurrency exchange based in Singapore, will serve as the custodian for the ETF and will also act as its liquidity provider. Earlier this month, Trump Media hinted at its plans to issue an ETF by filing for a standalone Bitcoin ETF.
The inclusion of Ethereum aligns with the Trump family’s involvement in the cryptocurrency space. According to Arkham data, World Liberty Financial, a decentralized finance (DeFi) project backed by the family, has 96% of its assets on the Ethereum blockchain.
If sanctioned, this new fund would join a growing roster of cryptocurrency ETFs, including those managed by major financial institutions like BlackRock, Grayscale, Fidelity, and Franklin Templeton, which collectively hold $131 billion in Bitcoin ETF assets.