Trump Media & Technology Group has filed with the U.S. Securities and Exchange Commission to launch an exchange-traded fund that would invest in both bitcoin and ethereum.
The move follows a similar filing less than two weeks ago for a bitcoin-only ETF under the Truth Social brand.
The proposed Truth Social Bitcoin & Ethereum ETF would compete in a market where several products already exist, including BlackRock’s iShares Bitcoin ETF, which holds $72.5 billion in assets. Trump Media has not yet disclosed the fees for either ETF.
The latest filing specifies an initial investment ratio of three bitcoins for every ethereum token. The ETF would be issued by Yorkville America Digital.
If approved, the fund would target investors interested in cryptocurrency exposure through public markets. Truth Social’s brand may help it attract a specific group of retail investors.
