Former President Donald Trump is further expanding his footprint in the crypto space with plans to launch an exchange-traded fund (ETF) tied to a basket of leading cryptocurrencies.
Trump Media & Technology Group (DJT), the Florida-based company behind the Truth Social platform, announced Tuesday it has filed with the Securities and Exchange Commission for approval to launch the “Crypto Blue Chip ETF” later this year.
The proposed ETF would allocate 70% of its holdings to bitcoin, the most widely held cryptocurrency, along with 15% in ethereum, the second-largest digital asset by market cap. The fund would also include 8% in solana, a favorite in the meme coin community, 5% in XRP, the cryptocurrency developed by Ripple, and 2% in Cronos, created by the exchange Crypto.com, which is also set to serve as the ETF’s digital custodian.
Trump Media had previously announced a more limited ETF focused solely on bitcoin and ethereum, though it’s unclear if that plan will proceed. The company did not immediately respond to a request for comment.
Cryptocurrency-based ETFs offer investors a way to gain exposure to digital assets without directly purchasing them. These products have surged in popularity, especially since bitcoin ETFs began trading in U.S. markets last year.
The filing comes on the heels of new SEC guidelines released last week for crypto ETF issuers, part of the Trump administration’s broader push to foster a more welcoming regulatory climate for crypto firms. The agency has also paused or dropped several enforcement actions against crypto companies since Trump returned to office.
Trump, once skeptical of bitcoin, has since become a prominent advocate of the industry, which has supported him with campaign contributions and other forms of backing. Ripple, for instance, was among the largest donors to his inaugural committee.
While Trump’s administration has embraced crypto-friendly policies, the Trump family’s growing involvement in the space has drawn criticism. Some Democrats have raised concerns about potential conflicts of interest, while a segment of the crypto community worries that Trump’s actions could undermine the industry’s credibility and long-term legitimacy.
At a press conference last month, Trump dismissed any claims of impropriety and emphasized his administration’s role in advancing U.S. dominance in the crypto sector.
“If we didn’t have it, China would,” Trump said.
Pump Radar
Stock Alerts