Trump Media Files for Bitcoin and Ethereum ETF on NYSE Arca

NYSE Arca, the digital arm of the New York Stock Exchange, has submitted a filing to regulators seeking approval to list a new cryptocurrency exchange-traded fund (ETF) from Trump Media & Technology Group (TMTG). The proposed ETF, named Truth Social Bitcoin and Ethereum ETF, aims to invest 75% of its assets in Bitcoin and 25% in Ethereum. This filing, dated Tuesday, was submitted to the US Securities and Exchange Commission (SEC).

This move by Trump Media comes just eight days after the firm behind the SPAC filed its prospectus with the official CT attorney general, Yorkville America, indicating a significant acceleration in the company’s crypto strategy. Trump Media, majority-owned by President Donald Trump, has been actively promoting financial products tied to blockchain technologies, offering the public regulated investment vehicles to engage with crypto.

If approved, this would be the second Truth Social-branded ETF filing in less than a month. The first, the Truth Social Bitcoin ETF, was submitted in early June and focused solely on Bitcoin. Both filings underscore TMTG’s ambition to expand beyond its social media and media streaming brand, positioning itself as a serious player in the crypto finance space.

To manage and secure the ETF operations, TMTG and Yorkville America have partnered with Crypto.com, a leading exchange. Crypto.com will handle digital asset custody, act as the execution agent for crypto transactions, and ensure liquidity for smooth fund operations. In the SEC filing, NYSE Arca stated that the proposed listing aims to comply with relevant regulations, emphasizing that the shares will be listed and traded under the initial and continued listing criteria on NYSE.

This proposal is subject to the SEC’s 19b-4 rule change process, which exchanges use when proposing new financial products. While this filing is a key regulatory milestone, it does not guarantee approval. The SEC will decide whether to allow or reject the listing, typically following public comment and internal review.

The SEC’s stance on digital currency appears to be evolving under the current administration. The agency, once seen as cautious and sometimes skeptical of digital assets, has started to adopt a more positive view. This shift comes after several senior SEC positions have been filled with appointees sympathetic to the development of crypto markets and increased investor access.

President Trump himself has undergone a significant change in his outlook on cryptocurrencies. Initially critical during his first term, he has become one of the most vocal political supporters of digital assets. In recent campaign speeches and public appearances, Trump has referred to digital assets as instruments of “financial freedom” and has integrated blockchain solutions into public policy projects.

This increasing political support bolsters Trump Media & Technology Group’s (TMTG) push into the crypto space. In collaboration with Yorkville America and Crypto.com, TMTG has announced the launch of a new suite of blockchain-based financial products under the “America First” banner. Some of the offerings being considered include the America First Bitcoin Fund, America First Blockchain Leaders Fund, and the America First Stablecoin Income Fund. However, only two products, the Truth Social Bitcoin ETF and the Truth Social Bitcoin and Ethereum ETF, have been formally filed with the SEC. The rest are conceptual and have not yet made any regulatory submissions.