U.S. President Donald Trump, through his Media & Technology Group, has submitted a registration application for a crypto ETF composed of leading cryptocurrencies.
ETF Composition and Features
Aiming to attract investors, Trump has introduced a preliminary prospectus for the ETF, which will consist of 70% Bitcoin (BTC), 15% Ethereum (ETH), 8% Solana (SOL), 5% Cronos (CRO), and 2% Ripple’s XRP. "The Trust is a passive investment vehicle that seeks to reflect generally the performance of the prices of the Portfolio Assets before payment of the Trust’s expenses and liabilities," the filing states.
Partnership and Asset Management
The investment vehicle is being launched in collaboration with Yorkville America Digital, the same asset manager backing Trump’s previous applications for a Bitcoin and Ether ETF. Crypto.com’s custody affiliate, Foris DAX Trust Company, will act as the fund’s custodian, responsible for safekeeping the underlying assets. Shares of the ETF are intended to be offered on the New York Stock Exchange Arca.
Trends in the Crypto ETF Market
The crypto ETF filing comes as digital asset-based funds gain popularity among investors in the U.S. Bitcoin ETFs have attracted $50 billion in net inflows since their inception in January 2024. This move by Truth Social is part of a strategy to provide retail and institutional investors access to cryptocurrencies via traditional financial markets.
Trump’s application for a crypto ETF highlights his ambitions in the digital asset space and responds to the growing interest from investors. The expected steps toward offering ETF shares may further impact the cryptocurrency market.
