Donald Trump's social platform, Truth Social, has filed with the US SEC to launch an ETF combining Bitcoin and Ethereum. The proposal aims to provide traditional investors access to the top two cryptocurrencies.
ETF Structure
The filed Form S-1 proposes the 'Truth Social Bitcoin and Ethereum ETF, B.T.' with a holdings ratio of 75% BTC and 25% ETH, with Singapore-based exchange Crypto.com acting as the custodian and liquidity provider.
Trump's Growing Involvement in Crypto
The recent filing signals Trump Media and Technology Group's deepening involvement with crypto, having raised $2.32 billion to create its own Bitcoin treasury in late May.
Competition in the ETF Market
If approved, these ETFs will add competition to a crowded market dominated by established asset managers like BlackRock, which currently manages $70 billion in assets through its Bitcoin Trust.
The launch of an ETF offering access to both Bitcoin and Ethereum could attract traditional investors and further integrate Trump Media into the crypto industry, reflecting the growing connection between cryptocurrency and traditional finance.
