Truth Social Files for Crypto Blue Chip ETF

The company behind former US President Donald Trump’s social network, Truth Social, has submitted an SEC filing using Form S-1 to register an exchange-traded fund based on cryptocurrency “blue chips”—the Crypto Blue Chip ETF.

According to the documents, if approved, the product will include “primarily” Bitcoin, ETH, XRP, SOL, and CRO. The latter is the token of the Cronos blockchain, associated with the Crypto.com exchange ecosystem.

The approximate initial asset allocation in the fund is planned as follows:

• 70% — BTC;
• 15% — ETH;
• 8% — SOL;
• 5% — CRO;
• 2% — XRP.

Additionally, the firm proposes to stake Ethereum, Solana, and Cronos.

Truth Social is a division of Trump Media & Technology Group (TMTG). Plans for the launch of a crypto ETF by the company emerged back in April. Crypto.com and Yorkville America Digital were named as key partners.

The products are expected to be released under the Truth.Fi brand by the end of the year, pending regulatory approval. TMTG intends to invest up to $250 million of its own funds in the funds and managed accounts.

In June, Truth Social already filed applications to launch a spot Bitcoin ETF and a combined fund based on the first cryptocurrency and Ethereum.

In April, the SEC officially appointed Trump’s nominee Paul Atkins. He stated that establishing a clear and understandable regulatory framework for digital assets is his priority.