tl;dr
Trump Media & Technology Group (TMTG), the company behind Truth Social, has filed with the SEC to launch an ETF tracking Bitcoin (75%) and Ethereum (25%). Partnering with Crypto.com for custody and trading and Yorkville America Digital as sponsor, the fund will be listed on NYSE Arca pending approva...
Trump Media & Technology Group (TMTG), known for its Truth Social platform, has filed with the SEC to launch a new exchange-traded fund (ETF) focused on Bitcoin and Ethereum. The proposed ETF will allocate 75% of its portfolio to Bitcoin and 25% to Ethereum, designed as a passive investment vehicle that tracks these cryptocurrencies' price movements, including potential rewards from staking Ethereum.
TMTG has teamed up with Crypto.com to handle custody, trading execution, staking, and liquidity support, while Yorkville America Digital is expected to sponsor the ETF. Pending SEC approval of the listing on NYSE Arca, this represents a significant pivot for TMTG, demonstrating its strategic shift from social media into the fintech and digital finance sectors.
Alongside this ETF filing, TMTG is advancing plans for a $2.3 billion Bitcoin Treasury deal, underscoring its commitment to expanding crypto holdings and regulated exposure to digital assets. Despite this strategic move, TMTG shares experienced a slight decline, hitting their lowest price since April.
This development highlights TMTG’s broader ambition to leverage growing cryptocurrency adoption by offering investors regulated access through innovative financial products. By collaborating with established crypto industry players and entering the ETF space, TMTG aims to establish itself as a key fintech player beyond its social media roots.