Trump Media Aims to Shake Up Crypto Markets with SEC Filing for Bitcoin & Ether ETF

Another day, another crypto ETF play—but this one’s got political flair. Trump Media just lobbed a regulatory grenade at the SEC, demanding approval for a dual Bitcoin and Ether trust. Because what’s a 2025 bull market without some headline-grabbing volatility?

Wall Street’s gonna love this. Or hate it. Either way, they’ll trade it.

The move signals a brazen push into crypto by the conservative media empire—because nothing says 'financial innovation' like marrying meme-stock energy with digital asset speculation. Will the SEC bite? Or will this become another filing collecting dust alongside a hundred other hopefuls?

One thing’s certain: the approval queue just got more interesting. And the crypto casino rolls on.

TLDR

• The SEC has officially accepted Trump Media’s application for a Bitcoin and Ether ETF.
• The proposed ETF will be listed on NYSE Arca and will hold 75% Bitcoin and 25% Ether.
• Crypto.com will serve as the custodian while Yorkville America Digital will act as the fund sponsor.
• The ETF will use CME CF reference rates to calculate the value of Bitcoin and Ether on a daily basis.
• All digital assets in the fund will be held in cold storage and kept separate from other custodial accounts.

The U.S. Securities and Exchange Commission (SEC) has officially accepted Trump Media’s application for a dual cryptocurrency exchange-traded fund. If approved, the ETF would offer direct exposure to Bitcoin and Ether through listed shares on NYSE Arca. This filing marks a significant step in Trump Media’s entry into the cryptocurrency investment sector.

Based on current market valuations, the proposed ETF aims to hold 75% Bitcoin and 25% Ether. Crypto.com, operating as Foris DAX Trust Company, will serve as the custodian. Yorkville America Digital will act as the fund sponsor, handling operational and compliance aspects.

This development arrives as the SEC begins evaluating new frameworks for cryptocurrency ETFs. With the application clock now active, the SEC must either approve or reject TRUMP Media’s ETF within a standard review period. The fund intends to provide institutional and retail investors with regulated access to digital assets.

Bitcoin ETF Structure Led by Trump Media

Trump Media’s ETF allocates three-quarters of its holdings to Bitcoin, using the CME CF bitcoin reference rate for pricing. The rate aggregates trade data across major cryptocurrency exchanges, ensuring consistent valuation. This structure enhances transparency and supports investor confidence in the pricing mechanism.

Cold storage custody ensures asset security, with private keys kept offline in separate fund accounts. This segregation safeguards the assets from potential breaches involving other customers. Trump Media emphasized the importance of compliance and secure asset management in its initial filing.

The ETF proposal aligns with rising interest in spot Bitcoin products as more firms seek SEC approval. Trump Media’s decision to prioritize Bitcoin mirrors recent market trends favoring institutional exposure. If approved, this move WOULD expand access to Bitcoin through a familiar investment structure.

Ether Allocation and Daily Valuation Method

Trump Media’s ETF also includes a 25% Ether allocation evaluated using the CME CF Ether reference rate. This rate captures Ether’s daily market value through data aggregation from top exchanges. The fund sponsor retains discretion to adjust valuation methods if necessary.

As with Bitcoin, Ether will be held in cold storage under Crypto.com’s custody. Fund assets remain isolated from other custodial clients to maintain strict compliance. Trump Media aims to establish a reliable valuation and custody model for dual-asset ETFs.

The ETF’s daily net asset value will reflect updated reference rates to ensure market alignment. Trump Media’s transparency in methodology supports its commitment to investor assurance. Ether’s inclusion enhances product diversification and broadens investor exposure to multiple crypto assets.

SEC Activity Signals Shift in Crypto ETF Approach

While reviewing Trump Media’s application, the SEC also delayed a decision on Fidelity’s proposed solana ETF. The delay initiated a new public comment period and opens the floor for rebuttals within 35 days. Cboe BZX Exchange submitted the initial Solana ETF proposal earlier this year.

Reports indicate that the SEC has asked issuers to amend and refile their applications by month-end. Analysts view these actions as indicators of increasing regulatory engagement. Trump Media’s inclusion in the process adds to momentum surrounding new digital asset ETPs.

Trump Media joins a growing list of firms awaiting feedback on crypto fund applications. Its ETF filing underscores the expanding influence of digital assets in regulated markets. The SEC’s actions may pave the way for broader access to spot crypto products.