XRP News Today: Trump Media Files for Crypto ETF Tracking Bitcoin Ether Solana

Trump Media’s Truth Social has submitted paperwork with the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) that tracks a basket of leading cryptocurrencies. The proposed “Truth Social Crypto Blue Chip ETF” will follow the performance of five major tokens: Bitcoin, Ether, Solana, Cronos, and XRP. The initial allocation leans heavily toward Bitcoin, which will make up 70% of the portfolio, followed by 15% in Ether, 8% in Solana, 5% in Cronos, and 2% in XRP.

The ETF is structured as a Nevada business trust and is being launched in partnership with Yorkville America Digital. Once approved, it plans to list on NYSE Arca, the exchange best known for hosting a growing number of crypto-related equity products. The filing notes that the ETF will not register as an investment company and won’t fall under the Commodity Futures Trading Commission’s oversight as a commodity pool. Shares will be issued and redeemed in blocks of 10,000 through authorized broker-dealers, helping the fund’s market price stay in line with the value of its crypto holdings. The underlying assets will be held by a custodian, and any future rebalancing of the fund’s allocation will require regulatory clearance.

This ETF application is the second from Trump Media in recent weeks. On June 16, the company also filed for a dual-spot Bitcoin and Ether ETF, aiming to give investors exposure to the two largest cryptocurrencies without the need to hold the assets directly. That fund would split holdings 75% in Bitcoin and 25% in Ether, with custody provided by Crypto.com. The SEC formally acknowledged that application on Monday, kicking off its review process.

Cryptocurrency ventures now account for nearly 10% of the Trump family’s net worth. The updated breakdown puts crypto-related proceeds at around $620 million—a sum that includes $390 million from the token sale by World Liberty Financial and $150 million from January’s launch of the Official Trump memecoin. Among the ongoing projects is a 20% stake in American Bitcoin, a mining firm backed by the Trump family that’s gearing up to go public via a merger with Gryphon Digital Mining. Formed in partnership with Hut 8 and America Data Centers, the company plans to stockpile Bitcoin as part of its treasury strategy.

Truth Social’s move into the digital asset world with the “Truth Social Crypto Blue Chip ETF” signifies a strategic effort to capitalize on the growing interest in cryptocurrencies. By offering an ETF that tracks a basket of leading cryptocurrencies, Truth Social aims to provide investors with a regulated and transparent way to gain exposure to the digital asset space. The ETF's focus on major cryptocurrencies and its passive investment strategy make it an attractive option for investors seeking exposure to the digital asset space without the need for extensive knowledge or expertise. The launch of the ETF is contingent on SEC approval of both the S-1 registration statement and a related Form 19b-4 filing by NYSE Arca. If approved, the ETF will offer both retail and institutional investors a regulated, transparent way to gain exposure to top digital assets without the complexities of direct crypto ownership.