Truth Social Shakes Up Crypto Market with Bold Bitcoin & Ethereum ETF Bid

Truth Social just dropped a bombshell on Wall Street—filing for a crypto ETF that doubles down on Bitcoin and Ethereum. Here''s why it matters.

Breaking the ETF Mold

No lukewarm index fund here. Trump''s social media platform is gunning for a pure-play crypto ETF, bypassing the usual corporate fluff to target digital gold and its silver counterpart head-on.

Market Mayhem Ahead?

This move could force legacy finance players to finally take notice—or trigger another round of desperate copycat filings from traditional asset managers playing catch-up.

Bonus jab: Because nothing says ''financial innovation'' like slapping ''ETF'' on existing assets and watching Wall Street lose its collective mind.

$106,430 and ethereum (ETH)$2,538. 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.

ContentsTrump and crypto ETFsTrump’s Approach to Cryptocurrencies

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.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.