It looks like the Trump Media & Technology Group (TMTG), the company behind Truth Social, isn’t done with its crypto ambitions just yet.
In a move that could further blend politics, media, and blockchain, the New York Stock Exchange (NYSE) has filed to list a new ETF tracking the prices of both Bitcoin and Ethereum, one that’s sponsored by Truth Social itself.
NYSE Arca Files to list dual crypto ETF
According to a 19b-4 filing submitted Tuesday to the Securities and Exchange Commission (SEC), NYSE Arca is proposing a rule change that would allow it to list and trade the “Truth Social Bitcoin and Ethereum ETF.”
The fund is designed as a passive vehicle aiming to reflect the performance of both assets.
The proposed product follows last week’s filing of an ETF prospectus, which revealed the fund would maintain an initial 3-to-1 ratio between the value of Bitcoin and Ethereum holdings.
The ETF is sponsored by Yorkville America Digital, with custody of the assets, both BTC and ETH, being handled by Foris DAX Trust Company, according to the filing.
This comes in addition to another Truth Social-backed ETF product: earlier this month, NYSE Arca also submitted a 19b-4 form for a single-asset Truth Social Bitcoin ETF, which would hold only Bitcoin.
Truth Social’s broader crypto strategy
The ETF filings appear to be just one part of a broader strategy by Trump Media.
The company has stated it plans to repurchase up to $400 million worth of its own shares, and in May, it announced a $2.32 billion private placement to fund a Bitcoin treasury, an approach reminiscent of MicroStrategy’s corporate crypto playbook.
If approved, the Truth Social ETFs could provide another vehicle for investors looking for crypto exposure through traditional finance rails, especially those already tuned in to the TMTG ecosystem.
So far, no timeline has been given yet for when the SEC might reach a decision on the proposed ETFs. As with all crypto fund filings, regulatory review is likely to take time.
