Trump’s media company, Trump Media & Technology Group, has asked the U.S. Securities and Exchange Commission (SEC) to approve a new crypto investment fund.
This fund, called the Truth Social Bitcoin and Ethereum ETF, would let people invest in both Bitcoin and Ethereum through one product. It plans to put 75% of the money into Bitcoin and 25% into Ethereum.
The crypto company Crypto.com will manage the fund’s crypto storage, trading, and staking services.
The ETF still needs approval from the SEC before it can launch. If approved, it will be listed on the NYSE Arca stock exchange.
Some people are raising concerns, as Donald Trump is promoting crypto while also being in office.
Concerns Over Conflicts of Interest
This move is part of Trump Media’s larger plan to include cryptocurrency in its business. In May, the company said it wants to raise $2.5 billion to build a Bitcoin treasury, showing its strong interest in digital assets.
But the plan has caused debate, with some people worried about possible conflicts of interest. They point out that President Trump is publicly supporting crypto while his own company is involved in crypto-related finance. Critics say this mix of political power and private business could harm trust in financial rules.
The SEC has not yet made a decision on the ETF. What happens next could have a big effect on how politics and crypto investments are handled in the U.S.