US President Donald Trump’s social media platform, Truth Social, has filed with the US Securities and Exchange Commission to launch a joint Bitcoin and Ethereum exchange-traded fund (ETF), a hybrid investment vehicle offering exposure to the top two cryptocurrencies.
In a Form S-1 submitted Monday, the proposed “Truth Social Bitcoin and Ethereum ETF, B.T.” would have a holdings ratio of 75% BTC and 25% ETH, with Singapore-based exchange Crypto.com serving as the custodian, execution agent, and liquidity provider.
Trump Media and Technology Group signaled its intent to issue a crypto exchange-traded fund earlier this month as it filed paperwork for a fund focused solely on Bitcoin, called the Truth Social Bitcoin ETF.
The new ETF seeks to offer traditional investors exposure to both Bitcoin and Ether by giving them shares backed by the crypto assets, eliminating the intricacies related to buying and storing the tokens themselves. The ETF shares are proposed to be listed on the New York Stock Exchange Arca (NYSE Arca), per the Monday filing. The product fees are yet to be disclosed.
The inclusion of Ethereum aligns with the Trump family’s crypto activity; World Liberty Financial holds over 95% of its assets on the Ethereum blockchain, according to data tracked by Arkham Intelligence.
If approved, the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF would join a crowded and competitive market already dominated by nearly a dozen established asset managers, including BlackRock, whose iShares Bitcoin Trust holds a whopping $70 billion in assets on behalf of its clients — accounting for roughly 3.37% of Bitcoin’s total supply.
The latest filing furthers the Trump Media and Technology Group’s deepening involvement with crypto. In late May, it raised $2.32 billion to build its own BTC treasury, though the firm has not yet announced any Bitcoin acquisitions.
Moreover, Trump’s family has become linked to a slew of crypto projects as the President’s administration eases restrictions on the hot sector.
As you may recall, President Trump debuted an official meme coin on the Solana blockchain back in January, just days before his swearing-in. Before that was the launch of the Ethereum decentralized finance platform World Liberty Financial, which has since unveiled its own governance token and stablecoin.
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