Trump Media’s Truth Social Bitcoin & Ethereum ETF filing marks a bold push into crypto.
The Trump Media & Technology Group, the company that owns the Truth Social and Truth.Fi, applied to the U.S. Securities and Exchange Commission on Monday to launch a Bitcoin-Ethereum ETF.
In the filing, plans to create a fund that would contain 75 % Bitcoin and 25 % Ethereum were described.
The proposed ETF is a Bitcoin-only ETF that will list on NYSE Arca and is the latest of their ETF filings.
Collectively, this indicates a huge shift on the part of the Trump-affiliated company into crypto
Analysts point out that with crypto ETFs getting as saturated as they are at this point (with BlackRock and Fidelity dominating the field).
The only differentiation available is either via fees or brand stories.
One of its major strengths: Ethereum and Bitcoin may be used together, which will bring additional customers.
The filing also indicates the further commitment of Trump Media to crypto with $2.3 billion capital raise to its Bitcoin treasury.
But it will still need SEC sign-off on the S-1 registration as well as a Form 19b-4 filing, which is already underway
