Trump Media Furthers Push Into Crypto With Third ETF Filing
Should any of them launch, they’d join a crowded field of crypto-minded offerings, as more than 10 Bitcoin-specific funds already trade in the US.
Trump Media & Technology Group Corp. is plowing deeper into the cryptocurrencies space with a new filing for an exchange-traded fund that would hold a number of digital assets including Bitcoin, Ether, Solana and others.
A Tuesday filing showed the social-media firm owned by President Donald Trump seeking to launch the “Crypto Blue Chip” fund, with the paperwork marking its third ETF filing. The fund, should it launch, would hold Bitcoin, Ether, Solana, Cronos and XRP directly, though nearly three-quarters of it would be comprised of Bitcoin, the largest token in the market. Though ETFs holding Bitcoin and Ether already trade in the US, no such funds hold Cronos or XRP directly.
It marks Trump Media’s third filing for crypto-based ETFs, with the firm having filed for a Bitcoin-Ether product as well as one tied solely to Bitcoin. Should any of them launch, they’d join a crowded field of crypto-minded offerings, as more than 10 Bitcoin-specific funds already trade in the US, as do many other digital-asset-based products. The Trump Media offerings would also present direct competition for issuers vying to stand out in the space.
Trump Media is the company behind Truth Social and is majority-owned by the president. The president’s deepening crypto ties have drawn criticism from ethics experts, who point to the potential for financial gain in areas where Trump also sets policy. The White House has said the president is walled off from his namesake businesses.
The president had embraced the crypto industry during his presidential run and has made good on a number of promises. The price of Bitcoin has risen during Trump’s second term, with the coin increasing roughly 55% since October to currently trade around $108,900 apiece.
