TLDR
- Trump Media unveils a Bitcoin-Ethereum ETF, but investors remain cautious.
- DJT launches ETF plans, but stock slips as SEC review begins.
- A 75/25 Bitcoin-Ethereum fund aims to rival giants like BlackRock.
- DJT’s ETF awaits SEC green light while investors hold back.
- DJT bets on Bitcoin and Ether, but Wall Street isn’t sold yet.
Trump Media & Technology Group Corp. (DJT) traded lower on Monday despite announcing plans for a new cryptocurrency ETF. The company’s stock dipped 1.54% to $19.22 after briefly rising above $19.75 in early trading. Investors reacted cautiously as regulatory steps for the ETF move forward but remain incomplete.
Trump Media & Technology Group Corp. (DJT)
DJT operates Truth Social, a social media platform, along with the Truth+ streaming service and Truth.Fi fintech brand. The company filed a new S-1 registration with the U.S. Securities and Exchange Commission to launch a dual crypto ETF. This ETF, named Truth Social Bitcoin and Ethereum ETF, will hold both Bitcoin and Ether in a 75-to-25 asset ratio.
Bitcoin ETF Plans Move Forward With SEC Review
Trump Media’s latest ETF filing reflects an attempt to enter the growing digital asset investment market through traditional financial channels. The company disclosed that Crypto.com will handle crypto custody and execution services for the new ETF. The ETF’s sponsor, Yorkville America Digital, also submitted a 19b-4 form to NYSE Arca for listing approval.
While the SEC has not responded to this filing, the regulatory review clock is now active and could run up to 240 days. Trump Media confirmed that the ETF will be backed by physical crypto holdings and not by futures contracts. However, the filing did not reveal the ETF’s ticker or its cash custodian, though updates are expected.
This product aims to simplify crypto investing for retail investors by eliminating the need for personal digital wallets or private keys. DJT’s move mirrors efforts by major issuers such as BlackRock, Fidelity, and Franklin Templeton, which have already launched similar spot ETFs. Though the structure resembles existing products, DJT positions this fund under its “America First” brand.
Ethereum Joins Trump’s Crypto Strategy
Ethereum will make up 25% of the ETF’s asset allocation, offering investors diversified exposure in one product. Ether’s inclusion places DJT’s fund among only a few combined crypto ETFs in the United States. This approach mirrors the Bitwise Bitcoin and Ethereum ETF, which launched earlier in 2025.
SEC approval of multiple single-asset Ether ETFs in 2024 set the stage for broader Ethereum-based offerings. Issuers like 21Shares, Franklin Templeton, and Fidelity already hold a presence in the Ether ETF space. Trump Media’s proposed dual-asset fund would directly compete with these firms on NYSE Arca.
Ethereum traded near $2,619 at the time of the filing, remaining largely stable despite geopolitical volatility in global markets. Crypto market activity has shown resilience in 2025, even as global events unfold. DJT is betting on long-term stability and investor interest in crypto diversification.
DJT Faces Crowded ETF Market and Investor Uncertainty
Though Trump Media is entering a rapidly growing sector, competition from established firms may limit its ETF’s market share. BlackRock’s iShares Bitcoin Trust currently dominates with about $70 billion in assets under management. Since launching in January 2024, the total U.S. spot Bitcoin ETF market has exceeded $130 billion.
DJT’s stock price did not reflect investor excitement and ended Monday lower. Market response indicates cautious optimism but also questions about regulatory outcomes and product timing. Investors may wait for SEC approval before significantly backing the stock or the ETF.
Moreover, Trump Media’s announcement followed its $2.3 billion Bitcoin treasury registration, which received SEC approval last week. While the company said it has no immediate plans to issue securities, the move aligns with its broader crypto strategy. This includes previous confirmation of a $2.5 billion capital raise to acquire more Bitcoin.
As the SEC reviews both the S-1 and 19b-4 filings, final decisions could take months depending on comment periods and amendments. The deadline for the Bitcoin-only ETF decision may extend to January 29, 2026. DJT’s market entry remains speculative amid fierce ETF competition and regulatory hurdles.
