Well, well, well. Here we are again. President Donald Trump’s Truth Social platform is going all-in on the cryptocurrency game. And this time, they’re not just tweeting about it—they’re introducing their own Bitcoin exchange-traded fund (ETF). Why? To compete with the big boys who’ve been cozying up to crypto for the past year. Makes sense, right? 🤔
Trump’s Truth Social Throws Its Hat Into The Bitcoin ETF Ring
On Tuesday, the New York Stock Exchange’s electronic arm, NYSE Arca, filed a 19b-4 form to list a Bitcoin fund linked to Trump’s media empire. For the non-financial folks, that’s a big deal. It’s the step right before getting the green light from regulators, which means Truth Social’s Bitcoin fund could be up and running on a US exchange soon. How’s that for a plot twist? 🤷♂️
The Truth Social Bitcoin ETF, as it’s cleverly named, will track the price of Bitcoin, giving investors a chance to hop on the crypto bandwagon without actually having to hold any Bitcoin themselves. Less risky, more convenient. Basically, crypto for the lazy—err, I mean, the “pragmatic” investors. 💰
This isn’t Trump’s first rodeo in the crypto world, either. Back in March, he partnered with Crypto.com (yes, that Crypto.com) to create a slew of digital asset products. More details to come—pending the usual bureaucratic approval, of course. 📜
Trump’s $2.5 Billion Bitcoin Plan and the Bitcoin ETF
According to a recent CNBC report, the new offerings will include a delightful mix of Bitcoin, Crypto.com’s Cronos (CRO) token, and good ol’ traditional securities. You know, just a casual combo of the old and the new. These products will be branded with the Trump Media stamp and available to users worldwide, thanks to major brokerage platforms and Crypto.com’s app, which somehow already has 140 million users. 😳
Since the launch of Bitcoin ETFs in January 2024, the market has ballooned to a whopping $130 billion in total assets. BlackRock’s iShares Bitcoin Trust (IBIT) is sitting comfortably at the top with a $69 billion portfolio—because of course it is. After all, who wouldn’t want to trust BlackRock with their crypto investments? 🙄
In fact, all this ETF action has been great for Bitcoin’s value, which recently peaked near the $112,000 mark. The competition is fierce, with BlackRock, Fidelity, and Grayscale all raking in billions from crypto-loving investors. But don’t count Trump out just yet. He’s got his eye on that Bitcoin prize. 🏆
Trump is the big boss at Trump Media & Technology Group, the parent company of Truth Social. In recent months, he’s been making strategic moves to get in on the crypto craze. This includes trademarking digital assets and—wait for it—announcing a $2.5 billion Bitcoin treasury plan. Yes, that’s billion with a B. In Las Vegas, no less. Because where else would you announce such a monumental plan? 🎰
If the Truth Social Bitcoin ETF gets the green light, it would join the ranks of “the most politically connected entries” in the already booming Bitcoin ETF market. Politics, crypto, and Trump—what could go wrong? 😅
And just for kicks, let’s talk about the TRUMP memecoin. Currently trading at $11.21—down a whopping 84% from its high of $73, which it hit just one day after launch. Yikes. 🤑
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2025-06-04 10:17