Truth Social Files for Joint Bitcoin and Ethereum ETF
Truth Social has filed an application with the US Securities and Exchange Commission (SEC) for a joint exchange-traded fund (ETF) that includes both Bitcoin (BTC) 
$107,137 and Ethereum (ETH) 
$2,582. This application was revealed to the public through a new S-1 document submitted by President Trump’s social media platform, Truth Social, to the SEC.
Trump and Crypto ETFs
The new application details that the majority of the fund’s assets will consist of Bitcoin and Ethereum, which will be held by a designated custodian company. The fund will be sponsored by Yorkville America Digital, with Cryptocom-associated Foris DAX Trust Company, LLC managing the crypto custody operations. This arrangement aims to facilitate access to crypto assets for both institutional and individual investors.
The fund aims to provide an alternative in the crypto ETF space, which has grown into a market worth tens of billions of dollars. Unsurprisingly, Trump’s company also seeks to earn significant commission revenues from the fund. Following the application’s review, it’s likely to receive approval if there are no documentation deficiencies. With many crypto ETFs already in trading and entities like BlackRock participating in this space, Trump’s involvement could bolster the popularity of cryptocurrencies.
Trump’s Approach to Cryptocurrencies
President Trump has previously made various statements in this arena. In a March announcement on the Truth Social platform, he shared that he instructed the US presidential working group to form a strategic reserve for the crypto asset markets. This reserve may include various crypto assets such as XRP, SOL, and ADA.
President Trump: “I have tasked the Presidential Working Group on Crypto Asset Markets to establish a Crypto Strategic Reserve, including XRP, SOL, and ADA.”
However, for now, this initiative has not gone beyond forming a “stock” utilizing assets seized as criminal proceeds. While several states are undertaking legal efforts for a real Bitcoin reserve strategy, most processes are ongoing.
These developments suggest that crypto assets are increasingly solidifying their position within the US financial system and regulations are accordingly adapting. This application and subsequent processes could notably influence investors’ interest and expectations. Discussions around digital asset regulation and investor protection are expected to remain prominent.