Trump Media Seeks SEC Approval for Truth Social Bitcoin and Ethereum ETF

NYSE Arca has submitted a proposal to the US Securities and Exchange Commission (SEC) to list and trade shares of the Truth Social Bitcoin and Ethereum ETF, under the ticker symbol BT. This ETF is designed to track the price movements of Bitcoin (BTC) and Ethereum (ETH), providing investors with a regulated and simplified method to gain exposure to these digital assets without the complexities of direct ownership.

The ETF will initially maintain a 3:1 ratio of Bitcoin to Ethereum holdings, allowing for a strategic allocation that reflects market dynamics. The sponsor retains the flexibility to adjust this ratio, ensuring the ETF can adapt to evolving market conditions. This structure is particularly attractive for investors seeking diversified crypto exposure within a single product.

Institutional involvement is a key factor in the ETF’s potential success. Crypto.com has been appointed as the custodian, prime execution agent, and liquidity provider, leveraging its established infrastructure to ensure secure asset management and efficient trading. Yorkville America Digital acts as the ETF’s sponsor, bringing financial expertise and regulatory experience to the product. Additionally, Trump Media and Technology Group Corp, the operator of the Truth Social platform, is the licensor of the ETF, marking a strategic diversification beyond its social media origins.

The SEC’s review process for the 19b-4 filing will commence once the proposal is published in the Federal Register. This process typically spans 45 to 240 days, during which the SEC evaluates compliance with securities laws and investor protection standards. The timeline underscores the regulatory scrutiny that cryptocurrency-related ETFs face, reflecting the SEC’s cautious approach to digital asset products.

This filing follows a recent submission for a Bitcoin-only Truth Social ETF, indicating an aggressive expansion strategy by Trump Media into the crypto investment space. Notably, the SEC has until January 29, 2026, to decide on the Bitcoin-only ETF, suggesting a potentially extended regulatory review period for these innovative products.

Trump Media’s announcement in May to acquire $2.3 billion in Bitcoin for its treasury, although not yet executed, signals a strong commitment to integrating digital assets into its corporate strategy. The launch of the Truth Social Bitcoin and Ethereum ETF aligns with this vision, offering retail and institutional investors a regulated vehicle to participate in the crypto market. This move could enhance market liquidity and broaden crypto adoption by bridging traditional finance and digital assets.

The proposed Truth Social Bitcoin and Ethereum ETF represents a significant step in the evolution of crypto investment products, combining institutional oversight with innovative asset allocation. Pending SEC approval, this ETF could provide investors with a streamlined, regulated pathway to access Bitcoin and Ethereum exposure, reducing the operational complexities associated with direct cryptocurrency ownership. As regulatory clarity advances, market participants should monitor developments closely, as this ETF may set a precedent for future crypto-linked financial instruments.