Trump Media and Technology Group (TMTG), the parent company behind the Truth Social platform, is stepping deeper into the crypto arena with its latest move—a proposal to list a dual Bitcoin and Ethereum exchange-traded fund (ETF). Filed through NYSE Arca, the ETF would trade under the ticker “BT” and aims to offer regulated exposure to both Bitcoin (BTC) and Ethereum (ETH), the two largest digital assets by market capitalization.

This proposal, officially submitted as a 19b-4 rule change filing to the U.S. Securities and Exchange Commission (SEC), marks a significant step in TMTG’s diversification strategy beyond its core social media operations. The ETF is designed to mirror the market performance of BTC and ETH without requiring investors to hold the assets directly.

SEC Review Process UnderwayAccording to the filing, the SEC’s review of the proposal will begin once it is published in the Federal Register. This review period can take as little as 45 days but may extend up to 240 days, depending on the complexity of the submission and the regulatory feedback process.

The proposed ETF will initially follow a 3:1 allocation strategy—meaning that for every unit of Ethereum held, there will be three units of Bitcoin in the portfolio. This ratio, however, is not fixed. The sponsor, Yorkville America Digital, retains the authority to modify the holdings ratio as deemed necessary based on market dynamics or strategic decisions.

How the ETF WorksIf approved, the Truth Social Bitcoin and Ethereum ETF will allow retail and institutional investors to access crypto price movements through traditional investment channels, like stock brokerage accounts. This eliminates the need for managing private wallets, navigating exchanges, or dealing with the complexities of crypto custody.

Each share of the ETF represents a fractional beneficial interest in the net assets held by the trust. These assets are exclusively Bitcoin and Ethereum, stored with Crypto.com, which is serving multiple roles in this structure. The crypto exchange is designated as the ETF’s custodian, prime execution agent, and liquidity provider, ensuring secure and efficient trading operations.

Trump Media’s Expanding Crypto StrategyThis is not Trump Media’s first foray into digital asset-based financial products. Earlier in June 2025, NYSE Arca submitted a separate 19b-4 application to list a Bitcoin-only ETF sponsored by Truth Social. The SEC has until January 29, 2026, to issue a decision on that filing.

In a related development, TMTG previously disclosed plans to purchase $2.3 billion worth of Bitcoin to hold in its corporate treasury. While the acquisition has not yet occurred, the statement highlights a broader vision of integrating digital assets into the company’s financial structure.

The move into ETFs aligns with this broader strategy. As traditional finance becomes increasingly open to cryptocurrency products, TMTG appears to be positioning itself to serve as both a media and financial technology firm. The ETF is being offered under NYSE Arca’s Rule 8.201-E, a framework that governs the listing of commodity-based trust shares.

Market Impact and Institutional AppetiteTruth Social’s ETF initiative reflects a growing trend of media and tech firms branching into financial services, particularly in the fast-evolving crypto space. ETFs tracking Bitcoin and Ethereum are gaining traction among institutions and retail investors alike, especially in markets like the United States where regulatory oversight provides an added layer of investor confidence.

Offering a dual crypto ETF in a regulated structure could appeal to conservative investors who want exposure to digital assets but prefer to avoid self-custody. The combination of two leading cryptocurrencies in one fund also simplifies diversification for those new to crypto investing.

The ETF proposal joins a broader wave of crypto financial products seeking SEC approval, amid increasing interest from pension funds, hedge funds, and large asset managers. If the SEC greenlights the filing, it could pave the way for more hybrid or dual-asset ETF products.

ConclusionTrump Media’s move to file for a Bitcoin and Ethereum ETF through NYSE Arca is more than just a headline—it’s a signal of shifting priorities and strategic evolution. While the firm continues to operate its social media platform, its growing interest in digital finance suggests a vision that extends far beyond media content.

With Crypto.com supporting the custody and trading infrastructure, and Yorkville America sponsoring the ETF, the fund appears structurally sound. All eyes are now on the SEC as it evaluates the proposal and determines whether this product can move forward in a tightly regulated market.

Whether or not the ETF receives approval, Trump Media has clearly staked its claim in the crypto landscape. By aligning its brand with digital asset innovation, it is setting the stage for a broader transformation—one that could see it emerge not just as a media company, but as a serious player in the next phase of financial technology.