SEC Greenlights Trump’s Truth Social Bitcoin & Ethereum ETF – A Political Crypto Power Play?

The SEC just dropped a bombshell—Trump’s Truth Social now has regulatory approval for its Bitcoin and Ethereum ETF. Cue the meme-stock crowd losing their minds.

Wall Street meets MAGA

Imagine the Venn diagram of crypto bros, political die-hards, and volatility traders—this ETF is where they collide. The SEC’s nod signals either mainstream acceptance or peak 'financialization of everything' (we’re betting on the latter).

Pump first, ask questions later

No price targets or AUM figures yet—just the raw spectacle of a political brand diving headfirst into crypto’s liquidity pool. Perfect for traders who think 'macro risks' mean which candidate tweets at 3AM.

Closing thought: Nothing bridges partisan divides like the shared delusion of getting rich quick. Happy trading, patriots.

Truth Social crypto ETF tracks Bitcoin and Ether

Truth Social proposes that the net asset value of its ETF will be evaluated each day with the bitcoin portion based on the CME CF Bitcoin reference rate, which is calculated by aggregating trade data from multiple major crypto exchanges.

The Ether in the fund will use the Ether CME CF reference rate to evaluate its value “unless otherwise determined by the Sponsor at its sole discretion.”

Truth Social first filed an S-1 FORM with the SEC for the dual crypto ETF on June 16. 

Fidelity Solana ETF delayed again 

Meanwhile, the SEC has delayed making a decision on Fidelity’s proposed spot solana ETF, opening up a new public comment window with responses requested within 21 days and rebuttals within 35 days. 

Cboe BZX Exchange, a US securities exchange, first requested permission to list a proposed Fidelity ETF holding Solana in a March 25 filing. 

In an X post on Monday, Bloomberg ETF analyst James Seyffart said it was “delayed as expected.” 

Source: James Seyffart

“We’re still waiting for some sort of movement from the SEC on a generalized digital asset ETP framework,” he added. 

Positive signs of SEC movement on crypto ETPs 

Seyffart said in another X post on Monday that reports of the SEC asking issuers of SOL spot ETFs to amend and refile applications by the end of the month are another positive sign of “SEC movement” on potential new crypto exchange-traded products. 

“Keep in mind that this WOULD just be more amendments and more back and forth, NOT approvals, as I’ve seen some people hint. Pretty much any sort of interactions between SEC and issuers/exchanges should be viewed positively,” he added.