Trump Media & Technology Group (TMTG) – the firm behind the Truth Social platform and a new mobile network – has filed a request with the US Securities and Exchange Commission (SEC) to launch a new cryptocurrency exchange-traded fund (ETF) that would include both Bitcoin and Ethereum. According to the filing, the proposed fund would invest 75% in Bitcoin and 25% in Ethereum, giving investors exposure to both of the largest cryptocurrencies in a single product.
The filing is part of an S‑1 registration statement, which is required before the ETF can be offered to the public. As per this latest filing, the trust would be sponsored by a company called Yorkville America Digital. The cryptocurrency custody and trade services would be handled by Foris DAX (which operates under Crypto.com). If the SEC approves it, the ETF would be listed on the NYSE Arca exchange.
Meanwhile, some details have not been made public yet. For example, the filing does not mention the fund’s management fees, the fund’s ticker symbol, or who will act as the cash custodian. However, most current Bitcoin ETFs charge around 0.12% in annual fees.
This is the company’s second ETF filing in recent weeks. The first one was for a Bitcoin-only ETF. Notably, the crypto ETF market is already competitive. Major players like BlackRock, Grayscale, and Fidelity already offer similar products. Therefore, experts believe that new funds like Trump Media’s will need to stand out with either low fees or a strong brand. In this case, the company may try to use its political or social media identity (especially its connection with Truth Social) as a way to attract attention.
This ETF plan is part of a larger push by Trump Media into the crypto domain. Earlier this year, the company announced its entry into the financial services space with a new venture called ‘Truth.Fi’. At that time, the firm said it would provide access to products like Bitcoin, exchange-traded funds (ETFs), and separately managed accounts (SMAs). Additionally, TMTG’s trademark filing for TruthFi also hinted at a crypto platform offering payments, trading, and asset management services. Notably, last year, President Trump transferred his majority TMTG stake (now worth around $3 billion) to a trust managed by his son Donald Jr.
Recently, the SEC approved a separate plan from the company to invest up to $2.3 billion in Bitcoin through a treasury deal backed by around 50 private investors. Last month (May 2025), the company raised around $2.44 billion in its latest funding, including $1.44 billion from selling shares at $25.72 each and another $1 billion through convertible debt.
All this is happening at a time when, during his second term as president, Donald Trump signed ‘Executive Order 14178’ in January 2025, scrapping Biden-era crypto rules and banning a US CBDC. Further, in March 2025, he created a National Crypto Reserve filled with seized digital assets like Bitcoin, Ethereum, and XRP.
