Truth Social Crypto ETF: Trump Media Targets Top Coins in New SEC Filing
Trump Media and Technology Group (TMTG) has filed with U.S. federal regulators to launch a new exchange-traded fund (ETF) that will track the prices of major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cronos (CRO), and XRP.
In a statement on Tuesday, the fintech firm confirmed that the planned Truth Social Crypto Blue Chip ETF will be composed of 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP. These details were outlined in an S-1 registration statement filed last Thursday with the U.S. Securities and Exchange Commission (SEC).
Details of the Proposed ETF
If approved, shares of the ETF will be listed on NYSE Arca. The filing also notes that Yorkville America Digital will act as the fund’s sponsor. Crypto.com is set to serve as the digital asset custodian and prime execution agent, as well as providing staking and liquidity services for the ETF.
This new filing highlights TMTG’s growing interest in the crypto investment market, following previous ETF proposals focused on Bitcoin alone and on a BTC/ETH split (75% BTC, 25% ETH).
TMTG’s Broader Crypto Strategy
Trump Media, co-founded by former U.S. President Donald Trump, is already a publicly traded company. Its flagship social media platform is Truth Social, where Trump remains an active user.
The company’s shares were trading at $19.12 at the time of writing, up approximately 2% over the past 24 hours. TMTG did not immediately respond to requests for further comment on the filing.
According to an earlier April statement, Trump Media has several other crypto-themed ETFs in the pipeline, including:
- America First Bitcoin Fund (AFBF)
- America First Blockchain Leaders Fund (AFBLF)
- America First Stablecoin Income Fund
Additionally, TMTG announced in May that it had raised over $2.3 billion to establish a Bitcoin treasury, although it has yet to disclose any BTC purchases. The company also recently reaffirmed this plan while unveiling a $400 million stock buyback program.
Crypto ETFs Gain Momentum in the U.S.
The filing comes amid surging interest in digital asset-based funds in the United States. Spot Bitcoin ETFs have attracted nearly $50 billion since their debut in January 2024, according to Farside Investors.
Meanwhile, Bitwise CIO Matt Hougan recently predicted that spot Ethereum ETFs could draw about $10 billion in inflows during the second half of the year, as noted in a July 2 post on X (formerly Twitter).
The success of these ETFs has led more asset managers to seek approval for funds tracking a wider array of cryptocurrencies, including Solana, Dogecoin, and XRP.
Following the announcement, the price of Cronos (CRO) surged nearly 16%, reaching $0.094, according to CoinGecko. Other assets in the ETF basket remained relatively stable, with XRP down 2% at $2.29.
