XRP News Today: Trump Media Files for Crypto ETF with 70% Bitcoin Allocation

Trump Media & Technology Group (TMTG), the parent company of Truth Social, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission for a “Blue Chip crypto” exchange-traded fund (ETF). The proposed investment trust will primarily hold Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cronos (CRO), the native token of the Cronos blockchain, which is associated with the Crypto.com exchange.

The SEC has acknowledged the filing, which means it’s now under review. The ETF portfolio will maintain a composition of approximately 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP by value. Upon approval, the ETF will be listed and traded on NYSE Arca, though the fund’s ticker symbol remains undisclosed.

The proposed ETF is expected to function as a passive investment vehicle, tracking the market prices of its underlying cryptocurrencies without employing leverage, derivatives, or speculative trading strategies. The fund will also engage in staking for assets such as Ethereum, Solana, and Cronos, allowing it to generate staking rewards.

Truth Social previously filed for a spot Bitcoin ETF in June, followed by a submission for a Bitcoin and Ethereum combination ETF. Similar to those registration statements, the “Truth Social Crypto Blue Chip ETF” is sponsored by Yorkville America Digital, while Foris DAX Trust Company will be serving as custodian for digital assets. Additionally, Crypto.com will act as the ETF’s exclusive Bitcoin custodian, prime execution agent, and liquidity provider.

Earlier reports indicated a TMTG partnership with Crypto.com to launch “Made-in-America” ETFs. The media platform signed a non-binding agreement to offer a series of exchange-traded products (ETPs) and funds (ETFs) on the Cronos blockchain-owned exchange. The inclusion of CRO in the investable ETFs appears to confirm Crypto.com’s involvement in the venture.

TMTG’s broader digital asset strategy includes a Bitcoin treasury plan. On May 30, the company announced it had raised $2.44 billion through a private placement involving nearly 50 institutional investors. The funding round included 55.9 million shares at $25.72 and $1 billion in zero-coupon convertible notes, with proceeds designated for Bitcoin acquisition and general operations. TMTG President and CEO Devin Nunes described Bitcoin as “an apex instrument of financial freedom,” stating that it would become a core component of the company’s asset base.

President Trump appears to be benefiting significantly from these cryptocurrency ventures. A report revealed that Trump and his family have reportedly earned over $620 million from recent cryptocurrency ventures, with Trump’s exclusive crypto holdings now comprising around 9% of his estimated $6 billion fortune. Beyond the Truth Social-affiliated ventures, the majority of this wealth is tied to his family-backed firm, World Liberty Financial, and the launch of his personal meme coin, TRUMP.