NYSE Arca filed Tuesday with federal regulators to list shares of a cryptocurrency exchange-traded fund proposed by Trump Media & Technology Group that would invest in Bitcoin and Ethereum.
The Truth Social Bitcoin and Ethereum ETF, which would trade under ticker B.T., seeks to allocate 75% of assets to Bitcoin and 25% to Ethereum, according to the Form 19b-4 filing with the Securities and Exchange Commission.
Trump Media, which operates the Truth Social platform, designed the fund to track the price performance of the two leading cryptocurrencies while offering investors a regulated alternative to direct ownership.
Yorkville America Digital would sponsor the fund, with Crypto.com affiliate Foris DAX Trust Company serving as custodian, execution agent and liquidity provider. The company plans to store assets in cold storage and provide staking services to potentially boost returns.
The filing follows Trump Media’s June 16 registration statement and marks the company’s second crypto ETF proposal this month after a Bitcoin-only fund. The SEC review process could take 45 to 240 days once published in the Federal Register.
If approved, the ETF would join a growing field of cryptocurrency investment products but face competition from established players like BlackRock, whose Bitcoin ETF holds $72.5 billion in assets.
Analysts noted the fund’s political branding tied to Truth Social and former President Donald Trump may attract retail investors but could raise concerns about being perceived as politically motivated, potentially affecting investor confidence.
The proposal reflects broader cryptocurrency investment demand as Trump Media pursues a $2.4 billion Bitcoin treasury plan and other crypto-focused funds, though regulatory approval remains uncertain given potential scrutiny of the company’s political connections.
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