Alan Suderman, AP Business Writer
President Donald Trump continues to expand his crypto-related offerings with a planned exchange trade fund tied to the prices of five popular cryptocurrencies.
Trump Media & Technology Group, a Florida company that operates the Truth Social Media Platform, announced Tuesday that it had filed documents with the Securities and Exchange Commission for approval to launch the “Crypto Blue Chip ETF” later this year.
The proposed ETF has 70% of holdings of Bitcoin, the world’s most popular cryptocurrency, 15% in Ethereum, and 8% in Solana, the most popular cryptocurrency in the Meme Coin community. The fund holds 5% in cryptocurrencies developed by Cryper Ripple, created by Exchange crypto.com, which acts as a digital custodian for ETFs, and 2% in Crypto.
Trump Media previously announced plans for a crypto ETF exclusively for Bitcoin and Ethereum. It is unclear whether the company plans to proceed with offering the ETF. Trump Media did not immediately return a request for comment.
Cryptocurrency-based ETFs make it easier for investors to get exposed to cryptocurrencies without having to buy directly. These funds have exploded in popularity since Bitcoin ETF began trading in the US market last year.
Last week, the SEC announced new guidelines for Crypto ETF publishers as part of the Trump administration’s push to create a more comfortable regulatory environment for crypto companies. The agency has also dropped or suspended several enforcement actions against crypto companies since Trump took office.
Trump was once a bitcoin skeptic and has since been a warm welcome in the cryptocurrency industry. Ripple, for example, was one of the biggest donors to Trump’s first committee.
While the Trump administration has been promoting crypto-friendly regulations and laws, the Trump family has been actively trying to expand its crypto-related businesses. That dynamic has led to allegations of corruption and concerns from Democrats among some cryptography enthusiasts that the president could undermine efforts to establish industry reliability and stability.
At a press conference last month, Trump dismissed the notion that his family’s investments were inappropriate and promoted the administration’s efforts to make the United States a global capital of crypto.
“If we don’t have it, China would do that,” Trump said.
Original issue: July 8, 2025, 12:57pm EDT
