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- Trump Media filed for Bitcoin and Ethereum ETFs while also developing its own token and wallet ecosystem.
- A $100M injection and exclusive crypto event sparked ethical concerns among US lawmakers.
Donald Trump is not the type to do things half-heartedly when entering a new world. This time, through Truth Social’s parent company, Trump Media & Technology Group (TMTG), they have officially filed two crypto ETF products at once: one focused on Bitcoin, and the other a Bitcoin-Ethereum mix.
This step was confirmed through the submission of an S-1 form to the SEC and also a 19b-4 document to the NYSE Arca for the ETF listing plan.
The ETF offered will put 75% of the funds into Bitcoin and 25% into Ethereum, with Crypto.com selected as the liquidity provider partner.
For many market players, this composition is not just an allocation strategy, but also a signal that TMTG wants to enter the crypto space through the main door. This is also part of a larger expansion, because previously they had filed a Bitcoin-specific ETF product first.
BREAKING: President Trump's Truth Social
files for Bitcoin & Ethereum ETF.#ETF $BTC pic.twitter.com/We56blKMUU— DeFi Planet (@PlanetDefi) June 16, 2025
Truth Social’s Crypto Ambitions Stir Questions and Criticism
What makes many people start to frown is not the technical aspects of the ETF, but all the other activities that accompany it. In recent months, CNF has reported that TMTG is busy designing its own utility token and digital wallet. This means that the company is really leaning towards the crypto world, not just trying it out.
But wait, there’s more. On June 14, Don Wilson — founder of DRW Investments — injected fresh funds of $100 million into TMTG. In fact, just a few weeks earlier, the SEC dropped its lawsuit against DRW’s crypto firm. This money will reportedly be used by TMTG to build a “crypto treasury” with a target asset value of $2 billion. An amount that makes many other crypto projects jealous, or even suspicious.
On the other hand, it’s not just ETFs and large-scale investments that are attracting attention. Donald Trump also held an exclusive dinner called the “Crypto Ball” at the Trump National Golf Club. This event was only for 220 large holders of the TRUMP meme coin. Sounds luxurious? Yes. But it’s also full of controversy.
Several senators such as Cynthia Lummis, Elizabeth Warren, and Jeff Merkley immediately criticized it. They are worried that events like this could be misused to “sell access” to the president and open up space for influence from abroad through crypto.
A Bolder Approach to Crypto That Blends Business and Politics
If you think about it, what TMTG is doing is a bit different from traditional companies that are usually more relaxed about entering the ETF space. Trump Media instead seems to combine business, politics, and the crypto community in one package that is difficult to separate.
What if this product is later approved by the SEC and Truth Social’s Bitcoin-Ethereum ETF can be traded publicly. They could bring a completely new color — or perhaps more precisely, an eccentric way — to the world of digital investment.
However, the road to approval is still long. Authorities like the SEC are known to be very strict when it comes to products that intersect with crypto. So even though the enthusiasm is high, not all plans will necessarily run smoothly.
