Trump-Backed Truth Social Files to Launch Crypto ETF Holding $1B in BTC, ETH, and More

Key Takeaways:

• Truth Social seeks SEC approval to launch a new ETF holding five major cryptocurrencies.
• Crypto.com will serve as exclusive custodian and liquidity provider for the fund.
• The ETF aims to list on NYSE Arca and directly hold Bitcoin, Ether, Solana, CRO, and XRP.

Trump Media and Technology Group (TMTG), the operator behind the social platform Truth Social, is making an aggressive push into crypto investment vehicles. On July 8, 2025, the company filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to create the Truth Social Crypto Blue Chip ETF, an exchange-traded fund (ETF) that will hold a basket of the market’s most established digital assets.

Read More: Trump-Backed Truth Social Files Bold Bid for Dual Bitcoin-Ethereum ETF on NYSE Arca

A Bold Play for Crypto Mainstream Adoption

TMTG’s proposed ETF marks one of the most direct and politically branded moves into the world of digital assets. According to the S-1 filing, the ETF will passively track the performance of five “blue chip” cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cronos (CRO), and Ripple’s XRP.

What sets this ETF apart is its direct holding strategy. Unlike futures-based products, the Truth Social Crypto Blue Chip ETF will physically hold the underlying digital assets. The initial allocation is as follows:

• 70% Bitcoin (BTC)
• 15% Ether (ETH)
• 8% Solana (SOL)
• 5% Cronos (CRO)
• 2% Ripple (XRP)

The asset weightings were selected to represent a diversified exposure across legacy and next-generation blockchain networks.

Custody and Infrastructure: Crypto.com’s Role

The ETF’s digital asset holdings will be managed by Foris DAX Trust Company, LLC, a subsidiary of Crypto.com, which will serve as the sole custodian and prime execution agent. This includes staking services, market liquidity provisioning, and asset security. Additionally, Foris DAX will act as the ETF’s rebalancing agent, ensuring the asset allocation remains true to its investment mandate.

Given Crypto.com’s increasing dominance in the digital asset infrastructure space, this move reinforces its role as a bridge between traditional finance and crypto-native institutions.

Structure and Listing: Aiming for NYSE Arca

The Truth Social Crypto Blue Chip ETF is sponsored by Yorkville America Digital, LLC, a New Jersey-based investment firm that will oversee the fund’s operations and compliance. The ETF will be structured as a Nevada business trust and intends to list its shares on NYSE Arca, pending SEC approval of both the Form S-1 registration and a separate 19b-4 filing.

If successful, the fund will issue and redeem shares in creation units of 10,000 shares, with pricing tied to the net asset value (NAV) of its portfolio. At launch, only cash creations and redemptions will be permitted. In-kind transactions—where investors exchange crypto directly for shares—may be allowed later, pending regulatory clearance.

As an ETF, the ETF will not be registered as an investment company under the Investment Company Act of 1940, and will not be a commodity pool for the purposes of the Commodity Exchange Act. These structural choices cut down on the regulatory overhead and may lay a path to market more quickly than the fund would have otherwise.

Trump’s Strategic Financial Pivot

The ETF’s launch is about much more than a financial product — it’s a signal. Stegman’s comments before the House Committee on Financial Services shine light on the political and financial worlds on display in both a President Donald Trump-endorsed SPAC-led ETF that carries the Truth Social brand. It’s part of TMTG’s ongoing mission to bring financial services into its growing media and fintech ecosystem.

Under the Truth.Fi brand, TMTG is positioning itself as a disruptive player offering “America First” investment vehicles. This crypto ETF follows previous filings from Truth Social, including the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF, both still under review by the SEC.

According to internal documents, the company has a broader ambition: to create a full suite of investment products that give everyday investors access to digital assets without navigating complex wallets or exchanges.

Read More: Trump’s $2.5B Bitcoin Move Ignites Market Buzz: BTC Bull Emerges as the New Token in The Market That Amid Saylor’s Call to Hold Your Crypto

Why This ETF Matters for the Crypto Market

The proposal arrives during a period of significant regulatory momentum in the United States. Since early 2024, spot Bitcoin ETFs have gained traction among institutional and retail investors alike. BlackRock, Fidelity, and other financial giants have already entered the race, bringing billions into spot-based crypto products.

However, most of these ETFs focus on single-asset exposure, such as Bitcoin or Ethereum. The Truth Social Crypto Blue Chip ETF would be one of the first multi-asset spot ETFs in the U.S., offering broader exposure within a single instrument.

Moreover, by integrating assets like CRO and XRP, the ETF introduces exposure to tokens not yet featured prominently in U.S.-listed ETFs. The inclusion of Ripple’s XRP is particularly notable given the ongoing legal clarity provided by partial SEC rulings in 2023 and 2024, which recognized XRP as a non-security when sold on secondary markets.

A Competitive Landscape for Crypto ETFs

While Truth Social’s ETF stands out for its branding and political alignment, it’s entering an increasingly competitive space.

BlackRock’s iShares Bitcoin Trust surpassed $25 billion in assets under management (AUM) earlier this year, and Fidelity’s Wise Origin Bitcoin Fund continues to see strong inflows. Meanwhile, Grayscale, after converting its Bitcoin Trust to an ETF in early 2024, has been lobbying the SEC to greenlight multi-asset crypto products.