Trump Media Files for New Crypto ETFs

Donald Trump continues to dive into the cryptocurrency space, as his media company recently filed for two new exchange-traded funds (ETFs).

The Truth Social Fund, under Trump Media and Technology Group, which Trump primarily owns, announced on Friday plans for a Bitcoin-Ethereum fund alongside a crypto yield ETF.

The first fund, named “Truth Social Cronos Yield Maximizer ETF,” allows investors to gain exposure to the performance of Cronos’ native token, CRO. The second fund aims to track the two leading cryptocurrencies, Bitcoin and Ethereum.

Crypto.com is collaborating with Trump Media to launch these products.

Last year, Trump Media entered into a deal with Crypto.com to introduce an ETF, although the venture was met with some criticism after revelations that 70 billion previously destroyed CRO tokens would be reissued. Additionally, the company expressed intentions to establish a CRO digital asset treasury.

The crypto ETF market is becoming increasingly competitive, featuring products from major asset managers like BlackRock, Fidelity, and Grayscale. Notably, Trump Media had already applied for a separate Bitcoin ETF and another fund tracking various cryptocurrencies last year.

Chris Marszalek, co-founder and CEO of Crypto.com, noted in a statement that “These two digital asset ETFs have strong value propositions that Crypto.com supports, and we look forward to providing access to our traders.”

While Trump Media has not commented on further inquiries, this filing highlights the family’s ongoing expansion into cryptocurrencies, although it has faced backlash, particularly from Democrats who allege that they are prioritizing personal profit.

Earlier in January, reports surfaced indicating that the Trump administration agreed to allow the UAE access to U.S. AI chips in return for an investment in World Liberty Financial, a decentralized financial product associated with Trump and his sons.