The U.S. Securities and Exchange Commission (SEC) has formally acknowledged an ETF application from Trump Media’s Truth Social, seeking to launch a dual Bitcoin and Ethereum exchange-traded fund.
If approved, the fund would mark one of the first politically affiliated crypto ETFs.
Regulatory Clock Starts Ticking
The SEC’s acknowledgment means the agency has formally accepted the ETF filing for review, triggering a regulatory countdown. From this point, the SEC has up to 240 days to either approve, reject, or request that the proposal be withdrawn.
Sponsored
If approved, the ETF would allocate 75% of its holdings to Bitcoin (BTC) and 25% to Ethereum (ETH), with shares listed on NYSE Arca.
Custody of the assets would be handled by Crypto.com’s Foris DAX Trust, while Yorkville America Digital is positioned as the fund’s sponsor. Assets are to be stored in cold wallets, separate from other customer funds.
Part of a Larger ETF Wave
The New York Stock Exchange (NYSE) filed in late June to list a new ETF by Trump Media, which would track both Bitcoin and Ethereum. The filing marks a deeper push into digital assets by the media firm, which recently proposed a standalone Bitcoin ETF and floated a $2.4 billion Bitcoin treasury strategy.
The move comes amid a broader wave of crypto ETF filings, as the SEC’s regulatory posture has become more favorable toward cryptocurrency under the Trump administration.
Truth Social’s application joins a flood of filings from major financial players, including Fidelity, BlackRock, and VanEck, all seeking to capitalize on rising demand for regulated crypto exposure. As of April 2025, the SEC was reviewing 72 crypto-related ETF proposals, encompassing a range of assets, from Bitcoin and Ethereum to XRP, Solana, Litecoin, and even memecoins.
Notably, the SEC recently postponed a decision on Fidelity’s spot Solana ETF, requesting public comments.
Why This Matters
With over a dozen crypto ETF applications now under SEC review, the Truth Social proposal adds political weight to a sector already pressuring regulators for clarity.
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People Also Ask:
An ETF, or Exchange-Traded Fund, is a type of investment fund that is traded on stock exchanges, similar to individual stocks. It holds a collection of assets such as stocks, bonds, or cryptocurrencies.
ETFs pool money from many investors to buy a diversified portfolio of assets. Investors can buy and sell ETF shares on stock exchanges throughout the trading day.
ETFs trade on exchanges throughout the day like stocks, while mutual funds are priced and traded only once per day after markets close
