Trump-Linked Truth Social Files With SEC For ‘Crypto Blue Chip’ ETF Tracking Bitcoin, Ether, XRP, And Solana
2025-07-09 16:02:26
Main Idea
Trump's Media & Technology Group has filed with the SEC to launch a 'Crypto Blue Chip ETF' consisting of major cryptocurrencies, aiming to offer shares on the NYSE Arca after regulatory approvals.
Key Points
1. The proposed ETF will consist of 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP.
2. The ETF is being launched in collaboration with Yorkville America Digital, which also backed Trump Media’s previous Bitcoin and Ether ETF applications.
3. Crypto.com’s custody affiliate, Foris DAX Trust Company, will act as the fund’s custodian.
4. Shares of the ETF are intended to be offered on the NYSE Arca in creation units of 10,000 after regulatory approvals.
5. The filing follows the popularity of crypto-based funds, with Bitcoin ETFs attracting $50 billion in net inflows since January 2024.
6. Trump Media raised over $2.3 billion in May to create a Bitcoin treasury, though no BTC purchases have been announced yet.
Description
U.S. President Donald Trump’s Media & Technology Group has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) to offer an exchange-traded fund tracking the prices of a basket of top crypto assets, including Bitcoin (BTC), Ethereum (ETH), Ripple’s XRP, Solana (SOL), and Cronos. The preliminary prospectus stated the Truth Social Crypto Blue Chip ETF will consist of 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP. “The Trust is a passive investment vehicle tha...
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