Trump-Linked Truth Social Seeks SEC Approval for Crypto Blue Chip ETF
U.S. President Donald Trump’s Media & Technology Group has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed Crypto Blue Chip ETF. This exchange-traded fund would track major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple’s XRP, Solana (SOL), and Cronos (CRO).
ETF Composition and Structure
The preliminary prospectus outlines the fund’s proposed allocation: 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP. As a passive investment vehicle, the ETF aims to mirror the performance of these assets before accounting for expenses.
Partnerships and Custodial Arrangements
The project collaborates with Yorkville America Digital, which previously supported Trump Media’s ETF applications. Foris DAX Trust Company, a Crypto.com affiliate, will serve as custodian for the fund’s underlying assets. Pending regulatory approval, shares will trade on the New York Stock Exchange Arca in 10,000-share creation units.
Regulatory Process and Timeline
The S-1 filing represents the first major regulatory step. The exchange must subsequently submit a Form 19b-4 to initiate the SEC’s review process, which typically takes several months.
Market Context and Trends
This filing follows growing investor interest in crypto-based funds. Since their January 2024 launch, Bitcoin ETFs have attracted $50 billion in net inflows. The proposal also aligns with Trump Media’s May 2024 initiative to establish a $2.3 billion Bitcoin treasury, though no purchases have been confirmed.
