On June 16, 2025, Trump Media & Technology Group submitted a new ETF application to the SEC for a combined Bitcoin and Ethereum fund. The move highlights the growing political influence on crypto adoption and intensifies the U.S. regulatory debate around digital assets.
Trump Media Expands Crypto Ambitions
According to Reuters, the new filing covers both Bitcoin and Ether in a fund to be listed on NYSE Arca under a proposed 75:25 allocation. The move follows this spring’s announcement of a standalone Bitcoin ETF and complements Trump Media's broader strategy to integrate crypto into its “America First” vision (source [1]).
NYSE Seeks Rule Change
Coindesk reports that NYSE Arca has already submitted a rule change to allow the listing of the combined ETF. The initiative would empower regulated exposure to digital assets within a traditional market structure, with Crypto.com serving as the custodian and liquidity provider (source [2]).
Political Resonance & Conflicts of Interest
The proposal arrives amid heightened political momentum: Trump Media raised $2.5 billion earlier this year to fund a Bitcoin treasury, and a watchdog group flagged potential conflicts tied to the NYSE and SEC leadership (source [3]). Meanwhile, Trump's role as a crypto advocate is being watched closely (source [4]).
Potential Market Impact
If approved, the “Truth Social Bitcoin & Ethereum ETF” could break new ground in the regulated crypto ETF space. Analysts suggest it may appeal to investors seeking multi-asset exposure in a single vehicle—challenging single-asset ETF market leaders (source [5]).
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