Washington, D.C. – July 2025 — In a move that has sent ripples through both political and financial circles, the U.S. Securities and Exchange Commission (SEC) has officially acknowledged a spot exchange-traded fund (ETF) application submitted by Trump Media & Technology Group. The proposed ETF, which includes both Bitcoin (BTC) and Ethereum (ETH), marks a significant development in the evolution of cryptocurrency investment vehicles.


ETF Structure: 75% Bitcoin, 25% Ethereum


According to the application, the proposed ETF will provide investors with exposure to the two leading digital assets in a single product, with an allocation of 75% to Bitcoin and 25% to Ethereum. This allocation strategy offers a unique approach compared to existing crypto ETFs, many of which focus solely on one asset.


Custody and Sponsorship




  • Custodian: Foris DAX Trust Company, a subsidiary of Crypto.com, has been designated to provide custody services. All crypto assets will be stored in cold storage wallets, segregated from client accounts to ensure enhanced security.



  • Sponsor: The fund will be sponsored by Yorkville America Digital, an asset management firm with a growing presence in digital finance.


Pricing and Valuation


The ETF’s daily net asset value (NAV) will be calculated using established benchmark pricing:



  • Bitcoin: CME CF Bitcoin Reference Rate (CME CF BRR)


  • Ethereum: CME CF Ether Reference Rate (subject to possible revisions at the sponsor’s discretion)


These indices are widely recognized for their transparency and reliability, leveraging data from top global crypto exchanges.


A Shift in SEC’s Approach?


This latest development suggests a possible softening in the SEC's historically cautious stance on crypto-based ETFs. While the Commission recently postponed a decision on Fidelity's proposed Solana (SOL) ETF, its decision to proceed with evaluating Trump Media’s Bitcoin-Ethereum ETF is being interpreted as a sign of increased openness—at least toward major digital assets.


Bloomberg ETF analyst James Seyffart commented, “We may now be seeing strong signs that the SEC’s general stance on crypto ETFs is evolving.”


The Political Dimension: Crypto in the 2024 Election Cycle


Former President Donald Trump’s involvement in launching this ETF has introduced a new layer of political significance. Known for his criticism of fiat currency and past vocal support of cryptocurrencies, Trump’s entry into the crypto ETF space appears to align with broader electoral strategies. Industry observers believe this move could be a key component of his digital asset platform in the ongoing election cycle.


What’s Next?


If approved, the Trump Media ETF would become the first U.S.-based spot ETF to combine both Bitcoin and Ethereum—potentially setting a new benchmark in crypto fund structures. Its association with a high-profile political figure could also accelerate mainstream adoption and institutional investment in digital assets.


The SEC is expected to issue a decision in the coming weeks. While approval is not guaranteed, the formal initiation of the evaluation process is itself a notable step forward for the crypto industry

Tags: #Trump #CryptoETF #Bitcoin #Ethereum #SEC