“If we didn’t have it, China would be,” Trump said [File]
Photo Credit: AP
US President Donald Trump has continued to expand his crypto-related offerings, this time with a planned exchange-traded funds associated with five popular cryptocurrency prices.
The Trump Media and Technology Group, a Florida company that operates the Truth Social Media Platform, announced on Tuesday that it had filed a paperwork with Securities and Exchange Commission for approval to launch “Crypto Blue Chip ETF” later this year.
The proposed ETF will have 70% holding in bitcoin, the world’s most popular cryptocurrency, 15% in ether, second most popular and 8% in Solana, 8% in a cryptocurrency in Meme Sikka community. The fund will conduct 5% in cryptocurrency developed by company Ripple and 2% in Crypto created by Exchange Crypto.com, which will serve as Digital Custodian of ETF.
Trump Media first announced plans for a crypto ETF with bitcoin and ether. It is not clear that the company is planning to move forward with the offer of that ETF. Trump Media did not immediately return the request for comment.
Cryptocurrency-based ETFs make it easy for investors to come into contact with cryptocurrency without purchasing directly. Bitcoin ETFS has exploded in popularity since the ETFS started trade in US markets last year.
The SEC issued new guidelines last week as part of the Trump administration’s push to create more welcome regulatory environment for crypto-related companies for Crypto ETF issuers. The agency has also demolished or stopped several enforcement operations against the crypto companies since Trump took over.
Trump was once a bitcoin suspicious, who has warmly embraced the Cryptocurrency industry, which has bathed him with a campaign and other types of contributions. For example, Ripple Trump’s opening was one of the largest donors of the committee.
While the Trump administration has pushed for crypto-friendly rules and laws, the Trump family has aggressively sought to expand its crypto-related businesses. The dynamic caused a concern for corruption allegations from the Democrat and some crypto enthusiasts that the presidents could reduce their efforts to establish credibility and stability for the industry.
At a news conference last month, Trump rejected any perception that his family’s investment was unfair and he deferred his administration’s efforts to make America the world’s capital for Crypto.
“If we didn’t have it, it would be China,” said Trump.
Published – July 09, 2025 11:04 AM IST