- Trump Media has registered a Bitcoin and Ethereum ETF with a mix of 75% BTC and 25% ETH under the B.T. ticker.
- The fund will be operated by Yorkville America Digital and custodied by Crypto.com.
- Its approval would be controversial because it was politically motivated and may lead to a wave of crypto ETF submissions.
Trump Media and Technology Group Corp. has filled out a form with the U.S. Securities and Exchange Commission to start a new exchange-traded fund that provides exposure to Bitcoin and Ethereum cryptocurrencies. The strategy behind the ETF, the Truth Social Bitcoin, and Ethereum ETF is to streamline the crypto investing process by pairing the best-performing cryptos in a single-symbol ETF: B.T.
The proposed fund would allocate 75% of funds to Bitcoin and 25% to Ethereum. This will be sponsored by Yorkville America Digital and Custodied by Crypto.com, which will manage the staking and liquidity activities. If approved, the ETF will be listed on the NYSE Arca.
The new product is the most recent Trump Media venture into digital finance, which was enabled by the SEC-approved Bitcoin treasury filing. The company had raised 2.3 billion toward an intended acquisition of Bitcoin and is seemingly pursuing a financial system with aspects of a financial ecosystem that incorporates a crypto exposure alongside a political identity.
Simplified Access or Strategic Optics?
The 75/25 BTC-ETH mix is the institutional trend of demand. Bitcoin still holds most of the ETF inflows, but Ethereum has gained popularity because of staking incentives and its deflationary system. Trump Media launched a packaged solution that may attract investors seeking mass crypto exposure without juggling investments across multiple sources.
The fund’s structure can interest retail and institutional investors, providing convenience and minimizing friction in asset management. However, it comes with a political twist. The branding of the ETF and its ties to the Truth Social platform may also dampen the consideration of the filing made by the SEC, particularly during an election season.
Although large asset managers, such as BlackRock and Fidelity, have similar products with no political baggage, the Truth Social ETF may become a benchmark case of how regulators deal with politically controversial financial products in crypto.
ETF Approval Landscape Heats Up
This filing comes as ETF activity is increasing. On the same day, CoinShares also filed an S-1 to launch a Solana spot ETF, following at least seven other firms to seek regulatory approval of Solana products. They are Franklin Templeton, VanEck, Grayscale, and Fidelity.
Bloomberg ETF analysts Eric Balchunas and James Seyffart reported that the SEC may take time to approve Solana ETFs, but the filings reflect an increasing pace of multi-asset crypto fund advancement.
The Truth Social listing is also reported against the SEC approval of the Trump Media $2.3 billion Bitcoin treasury registration. Although the company does not intend to raise new securities as a part of the approved transaction, the opportunity to purchase crypto continues.
