Trump Media Files for Dual Bitcoin and Ethereum ETF Approval

Trump Media & Technology Group (TMTG), the parent company of Truth Social, has filed with the U.S. Securities and Exchange Commission (SEC) for a groundbreaking dual Bitcoin and Ethereum Exchange-Traded Fund (ETF). This move signifies a deeper push into the cryptocurrency market, offering investors a regulated avenue to gain exposure to the two largest digital assets.

Trump Media's Bold Crypto Play

TMTG's latest filing, an S-1 registration statement, proposes the "Truth Social Bitcoin and Ethereum ETF." This innovative product aims to simplify cryptocurrency investment by providing a single vehicle for exposure to both Bitcoin and Ethereum. The proposed fund would allocate 75% of its holdings to Bitcoin and 25% to Ethereum, reflecting the current market dominance of these assets.

This is TMTG's second ETF filing in recent weeks, following an earlier application for a Bitcoin-only ETF. The company's increasing involvement in the crypto space is also evident through its new financial services venture, 'Truth.Fi,' which plans to offer access to various crypto products.

Key Details of the Proposed ETF

• Sponsor: Yorkville America Digital, LLC

• Custody and Liquidity Provider: Foris DAX (operating as Crypto.com)

• Listing Exchange: NYSE Arca

• Asset Allocation: 75% Bitcoin, 25% Ethereum

• Creation/Redemption Model: Cash-only at launch, with an intent to transition to in-kind processing.

Navigating a Competitive Market

The cryptocurrency ETF market is already highly competitive, with established players like BlackRock, Grayscale, and Fidelity offering similar products. For TMTG's ETF to stand out, experts suggest it will need to differentiate itself through competitive fees or a strong brand identity. The company may leverage its political and social media presence, particularly its connection with Truth Social, to attract investors.

Broader Crypto Ambitions and Political Context

This ETF filing is part of a larger strategy by Trump Media to expand its footprint in the digital asset sector. Earlier this year, the company received approval for a $2.3 billion Bitcoin treasury registration. The Trump family's growing interest in crypto is also highlighted by World Liberty Financial, a decentralized finance protocol with significant assets on the Ethereum blockchain, which has advertised its connection to Donald Trump.

The timing of this filing also aligns with broader shifts in the regulatory landscape. During his second term, Donald Trump signed 'Executive Order 14178' in January 2025, which scrapped Biden-era crypto rules and banned a US Central Bank Digital Currency (CBDC). Furthermore, in March 2025, he established a National Crypto Reserve using seized digital assets.

Wealth Manager Cautions

While the prospect of a dual Bitcoin and Ethereum ETF has generated excitement, some wealth managers have expressed caution. Nigel Green, CEO of deVere Group, emphasized the need for investors to scrutinize the product's structure and motives, especially given the unprecedented convergence of politics and finance. He advised investors to seek independent financial advice and ask hard questions before engaging with such products, stressing that SEC filing does not automatically guarantee investor best interests or insulate against conflicts of interest.

Sources

• Trump Media aims to launch a mixed Bitcoin-Ethereum ETF, files for SEC approval, The Tech Portal.

• Trump’s Truth Social Continues Crypto Push With Dual Bitcoin And Ethereum ETF Filing ⋆ ZyCrypto, ZyCrypto.

• Wealth manager cautions over Trump's Bitcoin and Ethereum ETF – The Armchair Trader, The Armchair Trader.

• Trump Media (DJT) Files to Launch Truth Social Bitcoin and Ethereum ETF, Bloomberg.com.

• Trump-Backed Truth Social Files Bold Bid for Dual Bitcoin-Ethereum ETF on NYSE Arca, CryptoNinjas.