Trump Media & Technology Group is targeting the digital asset market by registering a Bitcoin and Ethereum exchange-traded fund (ETF) with NYSE Arca.
On June 16, Truth Social — a company controlled by Trump Media & Technology Group — officially submitted documentation for a Bitcoin and Ethereum-based Exchange Traded Fund (ETF) to the U.S. Securities and Exchange Commission (SEC).
This initiative would allow the social media platform to diversify its operations by entering the digital asset sector through these financial products.
The filing proposes a trust structure that would directly hold bitcoin and ether, with 75% of the fund’s assets invested in bitcoin and 25% in ether.
The Truth Social Bitcoin and Ethereum ETF will have Yorkville America Digital as the fund’s sponsor, while custody of the digital assets will be entrusted to the Crypto.com exchange.
The choice of NYSE Arca as the listing venue for the fund is no coincidence: this market already hosts several cryptocurrency-linked ETFs and offers the necessary technological infrastructure to manage these financial instruments.
Trump Media & Technology Group’s move aligns with a broader trend in which public companies are increasingly integrating Bitcoin and other digital assets into their corporate treasuries.
Devin Nunes, CEO of Trump Media & Technology Group, stated:
“Trump Media’s vision is to aggressively enhance our offerings and capabilities, which includes holding bitcoin in our corporate treasury.”
The final approval of the Truth Social Bitcoin and Ethereum ETF will depend on the outcome of the regulatory review process at the SEC, which must assess the product’s compliance with current regulations on exchange-traded funds and cryptocurrency investments.
