Trump Media files to debut Bitcoin, Ethereum and crypto yield ETFs
President Donald Trump isn’t slowing down with his crypto business ventures, with the US leader’s company filing for two new ETFs.
Truth Social Funds, an ETF issuer from Trump Media and Technology Group, of which the president is majority owner, announced Friday that it had filed for a Bitcoin and Ethereum fund and crypto yield fund.
The crypto yield product, dubbed the “Truth Social Cronos Yield Maximizer ETF”, will give investors exposure to the performance of CRO, the native token of Cronos. The Bitcoin and Ethereum fund, the “Truth Social Bitcoin and Ether ETF”, will track the two biggest cryptocurrencies.
Crypto exchange Crypto.com is working with Trump Media to debut the products, the announcement said.
Last year, the president’s company made a deal with Crypto.com to debut ETFs. Some criticised the move following news that 70 billion previously destroyed CRO tokens would be reissued. Trump Media also last year said it would start a CRO digital asset treasury.
The crypto ETF market is already a crowded one, popular products by top asset managers BlackRock, Fidelity, and Grayscale already on the market. Trump Media last year filed for another Bitcoin ETF and a fund tracking a basket of cryptocurrencies.
“These two digital asset ETFs have a strong value proposition that Crypto.com is supportive of and look forward to providing traders access to,” Crypto.com co-founder and CEO Kris Marszalek said in a statement.
Trump Media did not immediately respond to questions from DL News but the filings come as the Trump family continue their push into the crypto world, with a dizzying amount of ventures.
Some have sparked backlash, though, with Democrats criticising the business moves and accusing the president’s family of lining its pockets.
The Wall Street Journal in January reported that the Trump Administration agreed to give the UAE access to American-made AI chips in return for investment in World Liberty Financial, a decentralised finance product backed by Trump and his sons.
Mathew Di Salvo is a news correspondent with DL News. Got a tip? Email at [email protected].
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