The convergence of social media ambitions and cryptocurrency markets has produced yet another curious chapter in the ongoing ETF proliferation saga, as Truth Social—the platform born from Donald Trump’s digital media aspirations—has filed an S-1 form with the SEC for a dual Bitcoin and Ether exchange-traded fund.
The unexpected marriage of Trump’s social media empire and cryptocurrency markets signals another chapter in the relentless ETF expansion narrative.
This filing represents a fascinating pivot from social media commentary to financial product development, though perhaps the shift from amplifying messages to amplifying investment exposure was inevitable.
The proposed ETF, sponsored by Yorkville America Digital, would allocate 75% to Bitcoin and 25% to Ether—a weighting that suggests either strategic conviction or market cap deference.
The structure involves direct holdings of both cryptocurrencies, with Crypto.com serving the dual role of custodian and liquidity provider, operating under its corporate identity as Foris DAX Trust Company.
The shares are proposed for listing on NYSE Arca, adding institutional legitimacy to what might otherwise appear as another speculative venture.
This development emerges from Trump Media and Technology Group‘s broader cryptocurrency interests, which include World Liberty Financial, a DeFi project emphasizing Ethereum exposure.
The company’s crypto enthusiasm has manifested in concrete financial commitments: the SEC approved a $2.3 billion Bitcoin treasury deal, while Trump Media raised $2.5 billion specifically for Bitcoin purchases.
These moves suggest a systematic approach rather than opportunistic dabbling.
The regulatory landscape presents both precedent and uncertainty.
With Bitcoin ETFs alone managing $131 billion in assets, the SEC has demonstrated willingness to approve crypto-based investment vehicles.
However, approval remains contingent on meeting stringent compliance requirements, and the dual-asset structure adds complexity to an already scrutinized process.
Crypto.com’s involvement brings international expertise and robust security infrastructure, though the Singapore-based exchange must navigate SEC regulations designed for traditional custodial arrangements. The Ethereum portion of the fund will benefit from Crypto.com’s staking services, providing additional yield generation opportunities for investors.
The partnership highlights the increasingly blurred lines between traditional finance and crypto-native institutions.
Should the ETF receive approval, it would enter a crowded market where differentiation depends on allocation strategies, fee structures, and operational efficiency. Unlike direct cryptocurrency ownership, ETF investors will hold fund shares rather than actual tokens, eliminating the complexity of private key management while introducing management fees. Meanwhile, Trump Media shares have experienced significant volatility, with the stock suffering a pullback exceeding 40% in 2025 as investors weigh the company’s expanding crypto initiatives.
The dual-asset approach may attract investors seeking diversified crypto exposure without direct wallet management—assuming regulatory approval materializes and market demand justifies another entry in an already saturated landscape.
