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XRP News Today: Trump Media Files for Crypto ETF Tracking Top Assets
Generated by AI AgentCoin World
Wednesday, Jul 9, 2025 11:55 am ET1min read
Donald Trump’s Media & Technology Group has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) to offer an exchange-traded fund (ETF) that tracks the prices of a basket of top crypto assets. The ETF, named the Truth Social Crypto Blue Chip ETF, will include
(BTC), (ETH), Ripple’s XRP, (SOL), and Cronos (CRO).The preliminary prospectus outlines that the ETF will be composed of 70% BTC, 15% ETH, 8% SOL, 5% CRO, and 2% XRP. The ETF is designed as a passive investment vehicle, aiming to reflect the performance of the prices of the portfolio assets before the payment of the Trust’s expenses and liabilities. This initiative is a collaborative effort with Yorkville America Digital, the same asset manager backing Trump Media’s previous applications for a dual Bitcoin and Ether ETF, as well as a standalone BTC fund.
Crypto.com’s custody affiliate, Foris DAX Trust Company, will serve as the fund’s custodian, responsible for the safekeeping of the underlying assets. Shares of the ETF are intended to be offered on the New York Stock Exchange Arca and issued in creation units of 10,000 after receiving the necessary regulatory approvals.
The S-1 statement filed with the SEC is one of two important documents required before the ETF can go live for trading. The next step involves the exchange filing a Form 19b-4 with the SEC, which will initiate a review timeline. This filing comes at a time when digital asset-based funds are gaining popularity among investors in the U.S. Bitcoin ETFs have attracted significant net inflows since their inception in January 2024.
The crypto Blue Chip ETF filing represents the latest high-profile move from Truth Social or related entities to bring crypto exposure to retail and institutional investors via traditional equity markets. Additionally,
raised over $2.3 billion in May to create a Bitcoin treasury, although the company has yet to announce its first BTC purchase.
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