Trump’s Truth Social platform has taken a significant step into the crypto ecosystem by filing an S-1 form with the SEC to introduce a dual-asset bitcoin and Ether ETF.
This innovative ETF aims to provide investors with exposure to both leading cryptocurrencies through shares backed by assets held by Crypto.com, simplifying direct crypto investments for traditional investors.
The trust plans to list on NYSE Arca, although details such as the ticker symbol and cash custodian are still pending finalization.
According to the SEC filing, Foris DAX Trust Company, operating as Crypto.com, will serve as the custodian for the ETF's holdings, ensuring secure asset management.
As part of its strategic expansion, Truth Social intends to file an amendment later detailing the prime execution agency agreement with Crypto.com, enhancing transparency and operational clarity.
This development follows recent SEC approval of Trump Media's $2.3 billion bitcoin treasury registration, underscoring institutional confidence in crypto assets.
Trump Media has also announced a $2.5 billion capital raise aimed at purchasing bitcoin, although they currently have no immediate plans to issue securities under that deal.
In parallel, CoinShares has filed for a Solana spot ETF in the US, seeking to expand its European-based -traded product offerings into the American market.
According to Bloomberg analyst Eric Balchunas, there are now up to eight Solana spot ETF filings under review by the SEC, including proposals from Fidelity and VanEck.
While some industry experts believe approval may be delayed, these filings indicate increased institutional interest in Solana as a blockchain ecosystem.
As the crypto market evolves and regulatory pathways develop, these ETF proposals could significantly influence institutional participation and mainstream adoption of digital assets.
The filing of a dual bitcoin and Ether ETF by Truth Social aligns with broader trends toward diversified crypto investment vehicles, providing easier access for retail and institutional investors alike.
