Trump Media & Technology Group (DJT) has recently announced plans to launch a new exchange-traded fund (ETF) that will feature not only Bitcoin and Ether, but also other cryptocurrencies such as Solana, Cronos, and XRP.
The Truth Social Crypto Blue Chip ETF
Founded by President Donald Trump, the Truth Social parent company filed on Tuesday to establish the Truth Social Crypto Blue Chip ETF. According to the specifications of the filing, the fund will consist of a varied mix of cryptocurrencies. The major share of 70% will be allocated to Bitcoin, followed by 15% in Ether. The rest of the ETF will incorporate 8% Solana, 5% Cronos, and the remaining 2% in XRP. It is further indicated that the proposed fund will be listed on the New York Stock Exchange’s Arca platform for ETFs.
Multiple Crypto ETFs
This latest filing comes in the wake of two other ETF proposals by Trump Media earlier in the year. The first ETF focused on allocating 75% of its assets in Bitcoin and the rest in Ether, while the second ETF intended to invest solely in Bitcoin. The company has mentioned a tentative launch date for all three ETFs sometime within the year. Crypto.com, one of the leading platforms in cryptocurrency services, stated in March that it would collaborate with Trump Media to present these ETFs.
Raising Capital for Bitcoin Acquisition
In a related development, it was announced in May that Trump Media aims to gather a huge fund of approximately $2.5 billion. The raised capital was intended for the purchase of Bitcoin, which further signifies the company’s keen interest in the cryptocurrency market.
Trends in Cryptocurrency Market
At the current time, Bitcoin is trading shy of $109,000, whereas Ether is hovering above $2,600. Meanwhile, Solana, Cronos, and XRP are priced at around $151, 10 cents, and $2.30, respectively. While these figures are subject to volatility inherent in cryptocurrency markets, they do indicate a strong interest and healthy activity within the realm of cryptos.
The Performance of Trump Media
After the announcement of their ETF plans, shares of Trump Media experienced an almost 3% rise on Tuesday. However, a long-term view paints a different picture. The shares have seen a decline over 40% for 2025, reflecting the broader challenges faced by the company and perhaps indicative of the volatility of the wider cryptocurrency market.
In conclusion, the drive toward introducing varied cryptocurrency ETFs by Trump Media exemplifies a growing trend among businesses eager to leverage cryptocurrencies for their potential return on investment. This trend may also signal a growing acceptance and mainstreaming of cryptocurrencies in traditional financial institutions. As always, caution and due diligence are advised when navigating the dynamic and unpredictable cryptocurrency market.
