Trump Media deepens crypto push with Bitcoin-Ether ETF filing
[NEW YORK] Donald Trump's media company has filed to launch an exchange-traded fund that would invest directly in both Bitcoin and Ether, the latest in a wider push into digital assets tied to the president's personal brand.
The proposed fund, dubbed the Truth Social Bitcoin and Ethereum ETF, was disclosed in a regulatory filing on Monday (Jun 16). It aims to give investors an easy way to gain exposure to the two largest digital assets and serves as a 'simple and cost-effective' alternative to using peer-to-peer networks or digital platforms. Yorkville America Digital is listed as the sponsor of the latest product.
Trump Media & Technology Group – the company behind Truth Social and majority-owned by the president – has been accelerating its digital-asset push. The firm recently announced plans to borrow money to buy Bitcoin, and previously said it would invest in the very ETFs it aims to issue. Earlier in June, Trump Media applied for a separate ETF focused solely on Bitcoin – a category already crowded with similar offerings.
The latest filing comes amid a fresh flurry of activity across Trump's sprawling business interests. On Monday, his sons Eric Trump and Donald Trump Jr unveiled a Trump-branded mobile phone service, relying on networks and hardware marketed as 'made in America.'
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. He has transferred roughly US$4 billion worth of Trump Media shares to a trust controlled by Trump Jr.
Crypto ETFs have been popular with investors this year. The iShares Bitcoin Trust has drawn US$12.5 billion of inflows in 2025, bringing its assets to US$70 billion, while Ether-focused products have also seen traction.
Having taken in more than US$2 billion collectively, two Ether funds – the iShares Ethereum Trust ETF and the 2x Ether ETF – are the second- and third-biggest haulers of cash so far this year among all crypto ETFs in the US, data compiled by Bloomberg show. BLOOMBERG
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