Trump Media files for third crypto ETF

Trump Media is planning to increase its crypto offerings as the company files for its third crypto-related ETF with the SEC. The new fund will own cryptocurrencies like Bitcoin, Solana, Ether, Cronos, and XRP. The proposed fund – the Crypto Blue Chip ETF, was disclosed in a regulatory filing on Tuesday. According to the filing, the fund would allocate nearly 75% of its holdings to Bitcoin, the largest cryptocurrency by market capitalization. The remaining share would be distributed across the other listed tokens, with direct exposure to each. While ETFs holding Bitcoin and Ether are already available in the US market, the inclusion of Cronos and XRP would make the Trump-backed product one of the first to hold these assets directly. Part of broader strategy The Crypto Blue Chip ETF marks the third ETF filing from Trump Media, the parent company of Truth Social and a firm majority-owned by President Donald Trump. Previous filings include a Bitcoin-only ETF and a Bitcoin-Ether hybrid fund. More than ten Bitcoin-focused ETFs currently trade in the US, alongside various other digital asset funds. The Trump Media filings would enter an already crowded field, potentially intensifying competition among issuers seeking to differentiate their offerings. If approved, these ETFs could attract investors looking for diversified exposure to multiple leading cryptocurrencies in a single product. Apart from the crypto offerings, the Trump Organization has also unveiled a $499-priced Trump smartphone and a mobile network. The company said the call centres of Trump Mobile will be entirely in the US. Ethical concerns and policy implications Trump’s deepening involvement in the cryptocurrency space has drawn scrutiny from ethics experts, who have raised concerns about the potential for financial conflicts of interest, given his dual roles as president and a business owner. Critics have pointed to the overlap between policymaking and personal financial interests in sectors such as digital assets. The White House has stated that President Trump is walled off from his businesses, and he has transferred control of his media holdings — including approximately $4 billion in Trump Media shares — to a trust controlled by his son, Donald Trump Jr. Despite the controversy, Trump has maintained a pro-crypto stance throughout his second term, pledging support for the industry on the campaign trail and backing related initiatives. Bitcoin surges during Trump’s second term The latest ETF filing comes against the backdrop of a broader bull run in cryptocurrency markets. Bitcoin has risen roughly 55% since October and currently trades around $108,900. The surge aligns with Trump’s pro-crypto policies and reflects continued investor appetite for exposure to digital assets. Should the Crypto Blue Chip ETF gain regulatory approval, it would offer investors a new vehicle for diversified exposure to top digital tokens, further cementing Trump Media’s role in shaping the next phase of crypto investment products in the US. The post Trump Media files for third crypto ETF appeared first on Invezz

Source: Invezz