Trump Organization Files Registration for Cryptocurrency Blue Chip ETF
WASHINGTON – Trump Media & Technology Group (TMTG), the publicly traded firm co-founded by former U.S. President Donald Trump, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed “Crypto Blue Chip ETF.”
The fund, named the Truth Social Crypto Blue Chip ETF, intends to track a basket composed of Bitcoin, Ethereum, Solana, Cronos, and XRP. According to the S-1 registration statement filed last Thursday, the weighting would be 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP.
The filing highlights TMTG’s ongoing diversification into cryptocurrency investment products. The company had previously submitted applications for a standalone Bitcoin ETF (the America First Bitcoin Fund) and a joint Bitcoin and Ethereum ETF (75% Bitcoin / 25% Ethereum).
Yorkville America Digital will serve as the initial sponsor, while Crypto.com will act as the digital asset custodian, prime execution agent and liquidity provider.
The proposed ETF’s shares will trade on the NYSE Arca exchange upon potential approval.
Moving Toward Crypto Assets
TMTG shares rose approximately 2% recently, but the price of Cronos saw a significant upside spike of nearly 16% following the announcement. Other assets listed, excluding XRP, were largely stable or showed minor losses.
Meanwhile, the filing adds to the growing landscape of crypto-based exchange-traded funds in the U.S., following the success of Bitcoin ETFs which have attracted approximately $50 billion in assets since their debut earlier this year. Industry analysts anticipate Ethereum spot ETFs could potentially attract $10 billion or more in the second half of the year.
While TMTG continues its push for these financial products, Yorkville Partners CEO Quincey Kistler noted Thursday’s filing is “but one step in a multi-step process” and anticipates clarity from the SEC on the proposed product could extend into late August at the earliest.
TMTG declined immediate comment to the news outlet reporting this story.
Other TMTG Crypto Plans
The company has also expressed interest in launching an “America First Bitcoin Fund,” an “America First Blockchain Leaders Fund,” and an “America First Stablecoin Income Fund.” Earlier this year, TMTG successfully raised over $2.3 billion specifically for a reserve to purchase Bitcoin assets, alongside recently announcing a $400 million share buyback program.
