Trump Media & Technology Group (TMTG), the company behind the Truth Social platform, has made a significant move into the cryptocurrency market by filing an initial registration statement with the U.S. Securities and Exchange Commission (SEC) for a dual Bitcoin and Ethereum exchange-traded fund (ETF). The proposed ETF, named Truth Social Bitcoin and Ethereum ETF, B.T., aims to provide investors with exposure to both leading cryptocurrencies through a single investment vehicle.
The ETF will hold Bitcoin and Ether directly, allocating 75% of its assets to Bitcoin and 25% to Ether. This allocation strategy reflects a focus on Bitcoin's established market position while also incorporating Ethereum, the second-largest cryptocurrency by market capitalization, known for its diverse applications in decentralized finance (DeFi) and non-fungible tokens (NFTs). The ETF shares will be listed on the NYSE Arca exchange upon regulatory approval.
Crypto.com, a prominent cryptocurrency platform, will act as the ETF's exclusive custodian, prime execution agent, and liquidity provider. This partnership aims to ensure the secure storage and efficient trading of the ETF's cryptocurrency holdings. Yorkville America Digital will serve as the sponsor of the ETF.
The launch of the Truth Social Bitcoin and Ethereum ETF is contingent upon the SEC's approval of the registration statement and a separate Form 19b-4 filing. The SEC has up to 240 days to approve or reject the ETF proposal. The filing comes as cryptocurrency ETFs have gained significant traction in the financial markets, following regulatory approvals for similar products earlier this year.
Trump Media's move into the cryptocurrency space aligns with its broader strategy of diversifying its revenue streams and expanding into the financial services sector. In May 2025, the company announced plans to raise $2.5 billion to invest in Bitcoin, with the goal of creating a "Bitcoin treasury." The company is raising the funds by selling $1.5 billion in stock and $1 billion in convertible notes. Trump Media intends to hold Bitcoin on its balance sheet, alongside existing cash and short-term investments.
The company has also launched Truth.Fi, a financial services and FinTech brand that will incorporate "America First" investment vehicles. These initiatives reflect Trump Media's ambition to evolve into a holding company with diverse assets and revenue streams.
The company's embrace of cryptocurrencies has attracted attention and scrutiny. Some lawmakers have raised concerns about potential conflicts of interest, given Trump's involvement in the company and his administration's policies toward the cryptocurrency industry. Prior to his inauguration, Trump issued the $TRUMP memecoin.
Despite the regulatory and ethical questions, Trump Media is moving forward with its cryptocurrency strategy. The company views Bitcoin as an "apex instrument of financial freedom" and believes that its investment in cryptocurrencies will help protect it against "harassment and discrimination by financial institutions." The launch of the Truth Social Bitcoin and Ethereum ETF represents a significant step in Trump Media's efforts to establish a presence in the digital asset market.
