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Trump Media has taken a major step into cryptocurrency, with the US Securities and Exchange Commission accepting its application for a Bitcoin and Ethereum exchange-traded fund. The proposed ETF would list on NYSE Arca, offering investors direct exposure with 75% of assets in Bitcoin and 25% in Ether. Custody of the crypto assets will be handled by Crypto.com, while asset management will be led by Yorkville America Digital.
Truth Social’s ETF will track daily net asset value using the CME CF Bitcoin and Ether reference rates, with all assets securely held in cold storage. The filing, submitted June 16, comes as the SEC explores streamlined listing structures for crypto ETFs, signaling increased support for digital assets in traditional markets.
Meanwhile, the SEC has delayed a decision on Fidelity’s proposed Solana ETF. Bloomberg analyst James Seyffart noted the delay was expected, but said recent SEC requests for amendments are a strong sign of positive momentum for crypto exchange-traded products.
