On June 24, 2025, the New York Stock Exchange (NYSE) filed a proposal to amend rules to list the Truth Social Bitcoin and Ethereum ETF initiated by Trump Media & Technology Group, according to SEC filings.
Trump Media's Bitcoin-Ethereum ETF proposal
NYSE filed a rule change 19b-4 to allow the listing of Truth Social Bitcoin and Ethereum ETF, with a holding ratio of 75% Bitcoin and 25% Ethereum. Trump Media, in collaboration with Yorkville America, submitted this ETF prospectus just 8 days prior (June 16, 2025). Crypto.com will act as the custodian, executing trades and providing liquidity.
The SEC filing states: 'The rule change aims to prevent fraud and manipulation, ensuring ETF shares are traded according to NYSE criteria.' This is a crucial step but does not guarantee SEC approval. Trump Media previously filed for the Truth Social Bitcoin ETF in early June, and together with Yorkville, Crypto.com plans to launch 'America First' products like America First Bitcoin Fund and Stablecoin Income Fund, although only two ETFs have filed with the SEC.
Market context and crypto support
#TrumpMedia Operating Truth Social, Truth+, and Truth.Fi, primarily owned by President Trump, raised $2.4 billion in May 2025 to build a Bitcoin reserve, but has not announced any BTC purchases. This move comes as the SEC, under crypto-friendly leadership from the Trump administration, is more open to digital asset investment.
Impact on the crypto market
Promoting institutional investment: A Bitcoin-Ethereum ETF, if approved, will attract capital from traditional investors, competing with BlackRock's ETF.
Increased crypto acceptance: The involvement of Trump Media and NYSE strengthens the positions of Bitcoin and Ethereum in mainstream finance, particularly in the U.S.
Legal risks: Delays in SEC approval or the failure of the CLARITY Act (2025) could pose obstacles.
Easing Middle East tensions support Bitcoin prices, but geopolitical volatility remains a risk.
Suggestions for investors
Monitor Trump Media ETF: If approved, this ETF could be a safe investment opportunity in Bitcoin and Ethereum.
Investing in Bitcoin, Ethereum: Both remain top assets thanks to institutional inflows ($1.24 billion last week, CoinShares).
Diversifying with altcoins: Solana and XRP are notable in DeFi and payments.
Regulatory caution: Monitor the GENIUS Act and SEC actions to manage risks.
Risk warning: Crypto investments carry high risks due to significant price volatility.