Trump Media Seeks SEC Approval for Dual Bitcoin & Ethereum ETF

Trump Media and Technology Group Corp. (TMTG) is renewing its crypto market efforts. NYSE Arca, the electronic trading branch of the New York Stock Exchange, has filed a rule change request with the SEC to list an Exchange-Traded Fund (ETF) associated with Truth Social.

This ETF would offer investors exposure to both Bitcoin (BTC) and Ethereum (ETH). The move signals an increasing effort by established financial players and emerging social media companies to secure their place in the regulated cryptocurrency market.

A Closer Look at NYSE Arca’s Proposal

At the heart of this initiative is NYSE Arca’s submission of a 19b-4 form, a pivotal regulatory filing required under the Securities Exchange Act of 1934. This filing initiates the SEC’s official review of the Truth Social Bitcoin and Ethereum ETF, which aims to trade under the ticker “BT.” This ticker represents a novel intersection of social media dynamics and digital asset investment.

Following publication in the Federal Register, the SEC has 45 to 240 days to assess the proposal. While the review period may be lengthy, it ensures regulators can thoroughly examine market effects and investor protections. Given the SEC’s historically cautious approach to crypto ETFs, this process will be closely followed by market participants.

ETF Composition and Key Partnerships

This ETF stands out by focusing on the two largest cryptocurrencies by market cap—Bitcoin and Ethereum. The Trust plans to hold these assets in a 3:1 ratio, meaning there will be about three times more Bitcoin than Ethereum. This allocation aims to balance exposure between Bitcoin’s established position and Ethereum’s dynamic growth.

The sponsor also has the flexibility to adjust this ratio based on market trends or investor preferences. Crypto.com will serve as the custodian, prime execution agent, and liquidity provider, ensuring strong operational support and seamless trading. Trump Media licenses the ETF brand, while Yorkville America Digital acts as the sponsor, highlighting the growing collaboration between fintech and media companies to integrate crypto assets into traditional investment platforms.

Market Implications of Trump Media’s ETF Move

This filing is part of a broader strategy reflecting Truth Social’s evolving ambitions. Earlier this month, a separate Form 19b-4 was submitted to list a Bitcoin-only ETF, currently pending SEC approval with a decision expected by January 29, 2026. The introduction of a combined Bitcoin and Ethereum ETF signals a more assertive diversification approach, as TMTG aims to expand beyond its core social media operations.

Notably, in late May, Trump Media revealed intentions to allocate $2.3 billion of its treasury reserves into Bitcoin, although no purchases have been finalized to date. This planned move underscores the company’s dedication to integrating cryptocurrency more thoroughly into its financial framework.

From an industry view, the proposed ETF reflects rising interest in regulated crypto products that let investors gain exposure without directly holding digital assets. Especially among institutional investors, demand is growing for products that combine regulation with access to major cryptocurrencies. This trend points to a maturing market that still faces regulatory hurdles but has strong momentum.

What to Expect Next?

The debut of the Truth Social Bitcoin and Ethereum ETF on NYSE Arca could be a milestone for crypto and traditional finance alike. SEC approval would open a regulated path for investors to diversify crypto holdings through a single, simplified product.

Still, the approval is far from certain, given the SEC’s cautious approach to crypto ETFs and the complexity of this dual-asset offering. Yet, Trump Media’s filings clearly signal a strong push to merge social media clout with digital asset investment.