- Truth Social has registered a Bitcoin and Ethereum ETF as a business trust in Nevada, paving the way for a future SEC filing.
- The ETF targets Bitcoin and Ethereum, aiming to offer spot or futures-based exposure through a regulated, dual-asset investment vehicle.
- Foris DAX Trust Company will serve as custodian, boosting investor confidence with secure asset management tied to Crypto.com infrastructure.
Truth Social has taken a formal step into cryptocurrency investment by registering a Bitcoin and Ethereum ETF in Nevada. The move lays the groundwork for a potential dual-asset fund under Trump Media and Technology Group (TMTG).
Truth Social Files Legal Trust for ETF
On June 5, TMTG registered the Truth Social Bitcoin and Ethereum ETF as a domestic business trust with the Nevada Secretary of State. The filing was made under entity number E49494922025-3. Although the company has not submitted offering documents with the U.S. Securities and Exchange Commission (SEC) yet, the Nevada registration provides a legal framework for a planned ETF product.
The proposed ETF will have exposure to Bitcoin (BTC) and Ethereum (ETH), which are the two largest cryptocurrencies by market capitalization. The fund could include spot or futures-based products, although specifics have not been confirmed. This registration mirrors the early steps other firms have taken before launching SEC-approved ETFs.
Focus on Leading Crypto Assets
The dual asset focus aligns with market demand for exposure to the most established digital assets. If approved, the ETF would enter a growing market currently led by firms like BlackRock, Fidelity, Grayscale, and Franklin Templeton. BlackRock’s iShares Bitcoin Trust (IBIT) has already attracted nearly $70 billion in assets since launch.
Truth Social plans to work with Foris DAX Trust Company as the fund’s custodian. Foris DAX also safeguards the digital assets of Crypto.com. This partnership adds a layer of operational security and could strengthen investor confidence in the ETF’s structure.
Political Tension and Market Reaction
Following the ETF news, TMTG’s stock (DJT) fell by 8% on Thursday. The decline came after a public clash between Donald Trump and Elon Musk over a tax and spending bill. Trump threatened to cancel government contracts with Musk’s firms, while Musk responded with a call for impeachment.
Despite the market reaction, the ETF registration marks a business move by Truth Social to enter the regulated crypto investment space. If pursued and approved, the ETF could offer new exposure to BTC and ETH under a politically prominent brand.
