The fund would hold top crypto assets, as well as CRO, a nod to ETF partner Crypto.com.<\/p>\n
President Donald Trump\u2019s Truth Social has filed<\/a> an S-1 registration statement with the Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) containing five \u201cblue chip\u201d cryptocurrencies.<\/p>\n Truth Social, an arm of Trump Media & Technology Group, has applied to launch the \u201cTruth Social Crypto Blue Chip ETF\u201d that will \u201cprimarily\u201d consist of Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP and Cronos (CRO), according to the filing. <\/p>\n The fund will initially hold about \u200b\u200b70% BTC, 15% ETH, 8% SOL, 5% CRO and 2% XRP.<\/p>\n The July 8 filing comes just weeks after the SEC has acknowledged the Truth Social ETF proposal<\/a> for a combined spot Bitcoin and Ether ETF, starting the clock on the approval process.<\/p>\n The crypto ETF approval process has been historically long and arduous under prior SEC leadership, including Biden-era SEC Chairman Gary Gensler, though the first U.S. spot crypto ETFs were approved under Gensler. The review process appears to have eased up<\/a> dramatically under President Donald Trump\u2019s new, pro-crypto<\/a> SEC Chairman, Paul Atkins who has called for a \u201crational regulatory framework\u201d for crypto broadly.<\/p>\n While the agency has delayed<\/a> most applications for spot Solana ETFs \u2014 with the notable exception of the Rex-Osprety SOL + staking ETF that launched<\/a> last week under a different approval process \u2014 there are already several Bitcoin ETFs and Ethereum ETFs, making the Truth Social ETF a lighter lift to approve.<\/p>\n That\u2019s likely one reason why its BTC and ETH ETF proposal, filed on June 16, jumped ahead of the more than 72 crypto ETF applications<\/a> currently before the agency. <\/p>\n For both ETF products, the Foris DAX Trust Company, the U.S. custody affiliate of centralized crypto exchange Crypto.com, will be the custodian. <\/p>\n That explains the rather unusual choice of CRO for the Crypto Blue Chip ETF. Cronos (CRO) was developed by Crypto.com<\/a> and it is currently the No. 42 cryptocurrency by market capitalization, according<\/a> to CoinGecko.The other assets listed in the fund are all in the top six cryptocurrencies.<\/p>\n CRO\u2019s inclusion in the ETF proposal caused the token to pump dramatically yesterday. It was up 16% on the news and is up 18% on the week, trading at $0.095 at press time. By comparison, BTC, ETH, XRP and SOL were basically flat on the news. <\/p>\n On April 22, Trump Media, Crypto.com, and Yorkville America Digital announced<\/a> plans to launch a series of ETFs and exchange traded products (ETPs) with a \u201cMade in America\u201d focus, namely that will include CRO. The Truth Social Crypto Blue Chip ETF is sponsored by Yorkville America Digital, and will, if approved, list on the NYSE Arca exchange, per the filing.<\/p>\n Truth Social has not yet expressed an interest in filing for an ETF containing<\/a> the President\u2019s TRUMP memecoin<\/a>, although a pair of other applicants have done so \u2014 a choice that Bloomberg Senior ETF Analyst Eric Balchunas called<\/a> \u201csurreal.\u201d He also wondered aloud on X if a TRUMP ETF would influence the SEC\u2019s decision on other memecoin ETFs.<\/p>\n The U.S. President\u2019s involvement in crypto deals<\/a> has caused outrage in Washington, namely among Democrats, who have accused him of outright corruption<\/a>. This also delayed<\/a> the Senate\u2019s eventual passage of the GENIUS stablecoin regulatory legislation<\/a>, as Democrats sought to insert language around the issue, and may do the same thing when the House takes it up during next week\u2019s \u201cCrypto Week\u201d in Congress<\/a>. <\/p>\nThe Cronos Connection<\/h2>\n