Donald Trump’s Truth Social Submits Applications for Both BTC and ETH ETFs
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Trump Media and Technology Group (DJT) has filed to list a Truth Social Bitcoin and Ethereum exchange traded fund (ETF) on Monday. The ETF will hold bitcoin and ether directly, with 75% of capital allocated to bitcoin and the remaining 25% to ether, according to a filing with the Securities and Exchange Commission (SEC). Singapore-based exchange Crypto.com will act as the ETF's custodian as well as being a liquidity provider. Trump Media and Technology Group indicated its intent to issue an ETF earlier this month with a standalone registration for a spot bitcoin ETF.
The inclusion of ether aligns with the Trump family's crypto activities; World Liberty Financial, the DeFi project backed by the family, holds 96% of its assets on the Ethereum blockchain, according to Arkham data. If approved, the fund would join a growing list of crypto ETFs, including those managed by various leading financial institutions. Bitcoin ETFs alone currently have $131 billion in assets under management.
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