Trump files registration to launch crypto trade fund

The Trump Media and Technology Group Corp. submitted a registration request on Tuesday to the U.S. Securities and Exchange Commission to publicly launch the Truth Social Crypto Blue Chip ETF, or exchange-traded fund. The registration request came a few weeks after President Donald Trump’s media company filed a separate registration request to launch the Truth Social Bitcoin and Ethereum ETF. Trump’s media company currently runs the social media platform Truth Social and the streaming platform Truth+, but is now aiming to enter the crypto market.

How will the Blue Chip ETF work? ETFs combine the qualities of mutual funds and common stock trading, according to the Charles Schwab Corporation. Similar to mutual funds, ETFs bundle diversified assets that generally track a specific index. However, unlike mutual funds, ETFs are traded like stocks on the public market, with the ability to be bought and sold at various prices multiple times throughout the day.

About 70% of Blue Chip’s ETF assets will be invested in Bitcoin, with about 15% in Ether and the remaining 15% scattered among Solana, Cronos, and Ripple, according to a statement from Trump’s company. Crypto.com will serve as Blue Chip’s exclusive digital asset custodian and prime execution agent, along with its staking and liquidity provider, the company said. Trump Media expected the ETF to launch later this year, but noted that the launch is entirely dependent on the registration’s approval.

Dig deeper: Read Todd Vician’s report in WORLD Magazine about Trump pushing national investment in digital currencies.