Trump Media and Technology Group filed an S-1 with the SEC to launch a spot Bitcoin and Ethereum ETF.
The ETF will allocate 75% to Bitcoin and 25% to Ether.
Crypto.com is set to serve as the ETF’s custodian and liquidity provider.
This aligns with the Trump family's increasing involvement in the crypto space, particularly with Ethereum.
If approved, this ETF would join the ranks of those managed by major players like BlackRock, Grayscale, and Fidelity.
Why this matters: This move signals further integration of cryptocurrency into mainstream financial products and reflects growing interest from traditional financial entities and political figures.
Trump Media and Technology Group (DJT) has officially filed to list a Truth Social Bitcoin and Ethereum exchange-traded fund (ETF). The filing with the SEC details that the ETF will directly hold Bitcoin and Ether, split with 75% allocated to Bitcoin and 25% to Ether.
Singapore-based exchange Crypto.com will act as the custodian and liquidity provider for the ETF. This move comes shortly after Trump Media and Technology Group signaled its intent to issue a standalone Bitcoin ETF earlier in the month.
The inclusion of Ether reflects the Trump family's broader crypto activities; World Liberty Financial, a DeFi project backed by the family, holds a significant portion (96%) of its assets on the Ethereum blockchain, according to Arkham data. If approved, this fund would join a growing list of crypto ETFs managed by firms like BlackRock, Grayscale, Fidelity, and Franklin Templeton. Currently, Bitcoin ETFs alone have $131 billion in assets under management.
Q: What is the proposed allocation of the ETF?
75% to Bitcoin and 25% to Ether.
Q: Who will serve as the custodian for the ETF?
Crypto.com will act as the custodian and liquidity provider.
Trump's Truth Social is venturing into the crypto ETF market with a dual Bitcoin and Ethereum offering.
Crypto.com will handle custody and liquidity, adding credibility to the ETF.
The Trump family's backing of Ethereum suggests a strategic alignment with broader crypto trends.
Keep an eye on SEC approval, as this ETF could further legitimize crypto investments.
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