#TruthSocialCryptoBlueChipETF Truth Social submitted an application for an ETF primarily focused on Bitcoin, with allocations for ETH, Solana, Cronos, and XRP.

The Securities and Exchange Commission has approved Grayscale's altcoin ETF application, but has put trading on hold, leaving Truth Social's future uncertain.

Trump Media seeks to expand its crypto empire, facing potential regulatory challenges, but with eventual approval likely. Trump Media's Truth Social submitted an ETF application today, following its recent campaign of applications to the SEC. This product is primarily focused on Bitcoin, including several other assets like Solana and Cronos.

Altcoin basket ETFs currently exist in a legal limbo, as Grayscale's application recently received SEC approval and an unorthodox trading suspension. The path for Truth Social to regulated exchanges is currently unclear. Truth Social, a key piece of President Trump's crypto empire, has been preparing ETF launch plans for several months. In early June, NYSE Arca filed a Form 19b-4 to launch a Bitcoin ETF under the firm's brand.

Today's new application takes more of a basket approach, containing several prominent altcoins in addition to BTC: the SEC theoretically approved an altcoin basket ETF, but immediately placed a suspension on actual trading afterwards. This product now exists in a legal limbo with no regular approval timelines, and Truth Social may face similar issues.