Trump Media Group, the company behind Truth Social, has filed for its first crypto ETF, aiming to combine leading cryptocurrencies into one fund.
Key Cryptocurrencies in the ETF
According to the filing with the U.S. Securities and Exchange Commission (SEC), the Truth Social Crypto Blue Chip ETF will directly hold five major cryptocurrencies. The asset allocation breakdown shows that 70% will be in Bitcoin, 15% in Ether, 8% in Solana, 5% in Cronos, and 2% in XRP. This structure is designed to allow investors to benefit from the overall growth of these coins without purchasing each one individually.
Necessary SEC Approval
Currently, the plan is awaiting approval. The SEC must clear the registration statement and approve a special filing called Form 19b-4. If approved, the ETF shares will trade on NYSE Arca, providing access to one of the largest U.S. trading floors for exchange-traded funds.
Future of Crypto ETFs in the U.S.
The delay in launch is not coincidental. Many experts believe that with the new Trump-led administration, the SEC may take a more favorable stance toward cryptocurrency. Other major players like Bitwise, Grayscale, and Franklin Templeton are also lining up to launch their own crypto ETFs. Should the Truth Social Crypto Blue Chip ETF go live, it could represent a new chapter for crypto investing in the U.S.
The application for the ETF by Trump Media Group highlights the growing interest in cryptocurrency investments and potential changes in SEC regulations, opening the door for new strategies in this field.
