Trump Media Files for Bitcoin and Ethereum ETF Listing on NYSE Arca

Trump Media and Technology Group Corp, the operator of Truth Social, has filed a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list the Truth Social Bitcoin and Ethereum ETF on NYSE Arca. The proposed ETF, under the ticker symbol B.T., aims to hold 75% of its assets in Bitcoin and 25% in Ethereum, providing investors with a simplified, single-ticker exposure to the two largest digital assets by market capitalization. The product is structured as a commodity-based trust, with Yorkville America Digital as the sponsor and Crypto.com’s affiliated trust entity, Foris DAX Trust Company, acting as the custodian for both crypto assets.

The filing follows Trump Media’s earlier announcement on June 16, where they submitted a registration statement on Form S-1 with the SEC. While the S-1 covers disclosure and structural details required for a public offering, the 19b-4 is a separate procedural step seeking regulatory approval for the product to be listed and traded on a national securities exchange. Both forms are necessary before the ETF can launch. The Form 19b-4 reiterates key elements first outlined in the S-1, including the fund’s passive investment strategy and the use of CME CF benchmark reference rates to calculate net asset value.

The fund’s Bitcoin and Ethereum holdings will be custodied in cold storage by Foris DAX Trust Company, a Crypto.com affiliate. In addition to custody, Crypto.com will also serve as the execution agent and provide staking and liquidity services to support the fund’s operations. With the 19b-4 now submitted, the SEC will begin its formal review process. The Commission has up to 240 days to make a final decision, though an initial response is typically issued within 45 days.

This move by Trump Media comes as crypto ETFs see heavy demand in the U.S. Earlier this month, Trump Media filed a similar 19b-4 application for a Bitcoin-only Truth Social Bitcoin ETF. The SEC has until January 29, 2026, to make a decision on this Bitcoin ETF. The filing of a 19b-4 application is a critical regulatory step in the process of listing a new ETF. This document outlines the proposed rule changes necessary for the listing and trading of the ETF shares on the NYSE Arca market.

The Truth Social Bitcoin and Ethereum ETF is designed to provide investors with exposure to both Bitcoin and Ethereum, two of the most prominent digital currencies in the market. The proposed ETF aims to offer a diversified investment option, allowing investors to gain exposure to the cryptocurrency market without the need to hold individual coins. The decision by Trump Media to pursue the listing of a Bitcoin and Ethereum ETF on NYSE Arca reflects a broader trend in the financial industry towards integrating cryptocurrencies into traditional investment portfolios. As the regulatory environment for digital currencies continues to evolve, more financial institutions are exploring ways to offer cryptocurrency-based investment products to their clients. The proposed ETF, if approved, would be a significant milestone in this trend, providing investors with a regulated and transparent way to gain exposure to the cryptocurrency market.