Trump Seeks SEC Nod For ‘Crypto Blue Chip ETF’/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Trump Media has filed with the SEC to launch the “Crypto Blue Chip ETF,” covering five major cryptocurrencies, including bitcoin and ethereum. The move signals Trump’s expanding involvement in crypto ventures. Critics warn of conflicts as the administration pushes crypto-friendly policies.
Trump Crypto ETF Quick Looks
- Trump Media files for “Crypto Blue Chip ETF”
- ETF would include bitcoin, ethereum, solana, ripple, crypto.com coin
- 70% of fund allocated to bitcoin holdings
- SEC reviewing new crypto ETF regulations under Trump
- Trump once skeptical of bitcoin, now embraces crypto industry
- Critics raise conflict-of-interest concerns over Trump family’s crypto ventures
- Ripple previously donated to Trump’s inaugural committee
- Trump touts goal of making U.S. global crypto hub
Deep Look
Trump Media Files For “Crypto Blue Chip ETF,” Expanding President Trump’s Crypto Footprint Amid Regulatory Changes
WASHINGTON (AP) — Former President Donald Trump’s media company is stepping deeper into the world of digital assets, announcing plans for a new cryptocurrency-focused exchange-traded fund (ETF) that would give investors exposure to some of the biggest names in crypto.
Trump Media & Technology Group, the Florida-based parent of the Truth Social platform, revealed Tuesday that it has filed paperwork with the Securities and Exchange Commission seeking approval for the “Crypto Blue Chip ETF.” If approved, the fund could launch later this year.
Breakdown Of The Proposed Fund
According to details released by Trump Media, the ETF would allocate:
- 70% of assets to bitcoin, the world’s leading cryptocurrency
- 15% to ethereum, the second-largest crypto by market cap
- 8% to solana, a popular token in the meme coin community
- 5% to ripple’s XRP cryptocurrency
- 2% to CRO, the token developed by Crypto.com, which would also serve as the ETF’s digital custodian
Previously, Trump Media signaled interest in launching an ETF focused solely on bitcoin and ethereum. It remains unclear if that earlier product is moving forward. Requests for comment to Trump Media were not immediately returned.
ETF Popularity Rising As Regulation Shifts
Crypto-based ETFs have become increasingly attractive to investors looking for simplified exposure to volatile crypto markets without directly holding tokens. Bitcoin ETFs only began trading on U.S. markets last year and have rapidly gained popularity.
The SEC issued new guidance last week for crypto ETF issuers, part of what the Trump administration has described as efforts to foster a more “crypto-friendly” regulatory environment. Since Trump returned to office, several SEC enforcement actions against crypto firms have been paused or dropped, signaling a softer stance toward the industry.
From Crypto Skeptic To Crypto Champion
Trump, who once called bitcoin a scam, has transformed into a vocal supporter of the crypto industry—a sector that has become a significant source of political donations and business opportunities for him and his family.
Ripple, one of the cryptocurrencies included in the proposed ETF, was among the biggest donors to Trump’s inaugural committee.
Critics Sound Alarms Over Conflicts
The Trump family’s expanding crypto ventures have drawn criticism and allegations of potential conflicts of interest, with Democrats accusing the former president of blending personal business interests with policy decisions.
Some crypto enthusiasts also express unease, fearing that overt political ties could harm the industry’s efforts to gain broader legitimacy and regulatory clarity.
At a recent press conference, Trump brushed off concerns about conflicts tied to his family’s crypto businesses, asserting his administration’s mission to make the United States the world’s leading hub for digital currencies.
“If we didn’t have it, China would,” Trump said, defending his push for a thriving U.S. crypto sector.
As Trump Media awaits the SEC’s decision, the filing underscores how deeply intertwined the former president has become with a crypto industry eager for both regulatory clarity and political backing.
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