Truth Social, the social media platform operated by Donald Trump's Trump Media and Technology Group Corp., has officially filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch a dual Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF). Filed on June 16, 2025, the proposed Truth Social Bitcoin and Ethereum ETF aims to provide investors with exposure to BTC and ETH by offering shares backed directly by these cryptocurrencies.
The ETF trust will hold Bitcoin and Ether through a custodian, Foris DAX Trust Company, which operates as Crypto.com. While Crypto.com is set to serve as the ETF's custodian and liquidity provider, final details such as the ticker symbol and cash custodian have not yet been disclosed. The ETF shares are planned to be listed on the New York Stock Exchange Arca (NYSE Arca), subject to regulatory approval.
This filing follows the SEC’s June 13 approval of Trump Media’s $2.3 billion Bitcoin treasury registration deal, although the company stated it has no immediate plans to issue securities related to that deal. The ETF proposes an allocation with approximately 75% in Bitcoin and 25% in Ethereum.
The move is seen as a strategic attempt to boost institutional cryptocurrency involvement by leveraging the platforms of Truth Social and Crypto.com. If approved, the ETF could increase trading activity and institutional interest in both Bitcoin and Ethereum, aligning with historical trends where launch of similar products enhanced crypto market visibility and liquidity.
Regulatory approval remains pending, and further details such as the final fund ticker and operational specifics will be announced in future amendments. The development is still evolving, with updates expected as additional information becomes available.