Is Trump’s Truth Social About to Shake Up Crypto? Bitcoin & Ethereum ETFs Might Get the Green Light!

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Key Insights:

  • The SEC has officially noticed Trump Media’s application for a double-barrelled Bitcoin and Ethereum ETF.
  • The proposed Truth Social ETF will toss 75% of its weight behind Bitcoin and a mere 25% on Ethereum, with Crypto.com as the custodian.
  • Oh, and by the way, Fidelity’s Solana ETF? Yeah, still in the waiting room with the SEC. But hey, it’s something!

Well, well, well, look what we have here. The U.S. Securities and Exchange Commission (SEC) has decided to notice something truly *historic*—an application from none other than Trump Media for a dual Bitcoin and Ethereum exchange-traded fund (ETF). Yes, ladies and gentlemen, this is not a dream. It’s happening. Probably.

So, after a quick review (that could take… a while), we might see the first crypto ETF backed by the world’s two most-talked-about digital currencies. But don’t get too comfortable, it’s not exactly the Empire State Building of investment vehicles just yet. The fund is small, but it could start a ripple effect. The SEC might just start to *feel* crypto differently after this—who knows?

Trump’s Truth Social ETF: A Crypto Masterpiece or Just Another Gimmick?

Ah, yes, it’s Trump Media’s Truth Social stepping into the crypto ring. They’ve got a proposal that could offer both retail and institutional investors a chance to bask in the regulated glory of Bitcoin and Ethereum via shares on NYSE Arca. I know, it’s almost too much to handle.

TRUMP’S TRUTH SOCIAL FILES FOR “CRYPTO BLUE CHIP ETF” — INCLUDING BTC, ETH, SOL, XRP & CRO!

70% ALLOCATION TO

GREAT TIMES AHEAD!!!!

— Crypto Jargon (@Crypto_Jargon)

The proposal is eye-opening, to say the least. According to their filing, the ETF wants to pour 75% of its assets into Bitcoin and the remaining 25% into Ethereum. Seems like Bitcoin’s still the big boss, but hey, Ethereum’s no slouch—hello, DeFi and smart contracts!

And who’s babysitting this fund, you ask? Foris DAX Trust Company—otherwise known as Crypto.com—will hold the keys to this crypto treasure chest. Meanwhile, Yorkville America Digital will sponsor it. Sounds like a good setup, right? But wait… will they actually pull this off?

How Will the ETF Track Prices? Spoiler: It’s Fancy Business

Now, let’s get technical for a second. The ETF has a pretty cool trick up its sleeve when it comes to calculating its net asset value (NAV). Every day, the fund will use the CME CF reference rates. This is a fancy way of saying it aggregates trade data from the top crypto exchanges. It’s like having the best of the best on speed dial—transparency and consistency for the win!

For Bitcoin, it’ll use the CME CF Bitcoin Reference Rate. Ethereum? That’ll follow the CME CF Ether Reference Rate unless Yorkville decides to spice things up. Oh, and let’s not forget: this flexibility adds a whole new layer of intrigue… and maybe a little *danger* for how the fund values itself. Oops.

And as for security? Don’t worry. Both Bitcoin and Ethereum will be stored separately in cold storage, far away from prying eyes. This is all set in stone now that the SEC has acknowledged the application as of July 8. They’ve got 240 days to decide. That’s nearly a year of bureaucratic wonderment. Buckle up.

Fidelity’s Solana ETF: The Waiting Game Continues

As a cherry on top, let’s talk about Fidelity’s Solana ETF. Guess what? The SEC has delayed that one too. This application has entered yet another public comment phase. If you’re a fan of the waiting game, you’re in for a treat.

Bloomberg ETF analyst James Seyffart confirmed what we already suspected: the delay was expected. But hey, he pointed out something interesting—though progress is slow, the SEC is at least engaging with issuers. That’s a *win* in the world of crypto regulatory battles.

MORE delays. ‘s Solana ETF filing was just delayed as expected.

We’re still waiting for some sort of movement from the SEC on a generalized digital asset ETP framework.

— James Seyffart (@JSeyff)

While we’re still not holding our breath for an approval, Seyffart notes that *any* movement from the SEC is, well, progress. The SEC’s recent dialogues suggest they’re not entirely opposed to crypto ETFs. That’s something to cheer about, right?

“We’re still waiting for some sort of movement from the SEC on a generalized digital asset ETP framework,” Seyffart added. And while this is all still far from a slam dunk, it’s definitely moving in the right direction… at a snail’s pace, of course.

So, while this is all still in the “let’s wait and see” stage, it’s worth noting: if the SEC finally gives its nod, we might be staring down an avalanche of crypto ETFs. And with crypto becoming more and more *mainstream*, these digital assets are starting to look like they’re here to stay as serious investment products. Wow. Who would’ve thought?

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2025-07-09 01:18