- Trump Media filed for a multi-asset crypto ETF holding BTC, ETH, SOL, CRO, and XRP.
- The ETF will allocate 70% to Bitcoin, with Crypto.com as custodian and liquidity provider.
- Cronos surged 16% after the filing while XRP dropped 2% to $2.29 on the same day.
Trump Media and Technology Group Corp. has filed a registration statement with the U.S. Securities and Exchange Commission to launch the “Truth Social Crypto Blue Chip ETF.” The ETF aims to track the price movements of five major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cronos (CRO) and Ripple (XRP).
According to the preliminary S-1 registration, the ETF will hold 70% of its assets in Bitcoin, 15% in Ethereum, 8% in SOL, 5% in CRO, and 2% in XRP. The filing states that Crypto.com will serve as the digital asset custodian and primary execution agent. It will also handle staking and liquidity operations for the ETF.
The ETF will not operate as a traditional investment company or commodity pool. Instead, it plans to issue and redeem shares in blocks of 10,000 through authorized broker-dealers. These redemptions are designed to help maintain alignment between the ETF’s market price and the value of the underlying assets.
Crypto Custody and Listing Plans on NYSE Arca
Yorkville America Digital is the designated sponsor of the ETF. The shares will be listed on NYSE Arca once the registration becomes effective and the SEC approves the required Form 19b-4.
The filing adds that the ETF is structured as a Nevada business trust. Any changes to the asset allocation will require regulatory approval. Trump Media stated that the offering will only proceed with a finalized prospectus and will not be sold in unregistered or unqualified jurisdictions.
The ETF joins a growing list of crypto-based investment products being pursued by Trump Media. Prior filings include a spot Bitcoin ETF and a combined Bitcoin-Ethereum ETF, with the latter allocating 75% to BTC and 25% to ETH. All funds are part of a broader strategy under the firm’s Truth.Fi FinTech brand.
Also Read: Crypto.com and Trump Media Partner to Launch Truth.Fi ETFs
Trump Media Broadens FinTech and Crypto Ambitions
The filing comes after the company previously announced plans to develop a crypto-centric financial services arm. Trump Media had earlier announced that it would raise $2.3 billion to fund a Bitcoin treasury. Although the firm had not formally confirmed any purchases, it reiterated its plans by announcing a stock buyback plan worth $400 million.
After the news, Cronos (CRO) increased by almost 22%, reaching $0.098. In addition, Prices of other ETF assets varied with mixed performance. XRP price rose 1% to $2.30, Bitcoin traded near $109,100, and Ethereum was at approximately $2,616.
The ETF structure will allow retail investors to gain indirect exposure to these digital assets without handling wallets or private keys. Investors will buy shares on a traditional stock exchange, and the ETF will hold the underlying crypto through a secure custodial arrangement.
Moreover, the applications coincide with a surge in retail and institutional investors’ demand for crypto-related ETFs. At the time of writing, bitcoin ETFs had drawn more than $50 billion in net inflows. Bitwise investment chief Matt Hougan anticipates increased growth in Ethereum ETFs, predicting a $10 billion inflow by the end of the second half of the year.
The ETF filing indicates that Trump Media is still pushing digital asset markets through regulated products.
Also Read: Bitcoin ETFs Fuel $1.04B Weekly Inflows, Crypto AuM Soars to $188B
