SoFi CEO enters prepaid forward contract on 1.5 million shares
NEW YORK - Trump Media and Technology Group Corp. (NASDAQ:DJT), trading at $14,685.60 with significant market interest shown by its 158.68M average daily trading volume, announced Monday it has filed an initial registration statement with the SEC for the Truth Social Bitcoin and Ethereum ETF. For deeper insights into DJT’s market position and growth potential, InvestingPro offers exclusive analysis and detailed metrics.
According to the company’s press release, the proposed ETF would allocate 75% of its assets to Bitcoin and 25% to Ethereum, with shares to be listed on NYSE Arca upon regulatory approval.
Crypto.com will serve as the exclusive custodian and prime execution agent for the ETF’s cryptocurrency holdings, while also providing staking and liquidity services. Yorkville America Digital has been named as the ETF’s sponsor.
The ETF launch remains contingent on SEC approval of both the registration statement and a Form 19b-4 filing.
Trump Media, which operates the Truth Social platform, Truth+ streaming service, and is developing the Truth.Fi financial services brand, stated the ETF would hold the cryptocurrencies directly and aim to reflect their price performance.
The company noted that shares of the ETF cannot be sold until the registration statement becomes effective, emphasizing that its announcement does not constitute an offer to sell securities.
Trump Media’s filing comes as cryptocurrency ETFs have gained significant traction in the financial markets following regulatory approvals for similar products earlier this year.
In other recent news, Trump Media and Technology Group Corp. has completed a significant funding round, securing approximately $2.44 billion through a private placement offering with around 50 institutional investors. The proceeds are earmarked for establishing a Bitcoin treasury and supporting general corporate activities. Additionally, Trump Media has filed with the U.S. Securities and Exchange Commission to introduce a Bitcoin ETF named Truth Social Bitcoin ETF, B.T., which is designed to directly hold Bitcoin and track the cryptocurrency’s market performance. Crypto.com will serve as the exclusive Bitcoin custodian and liquidity provider for the ETF, pending SEC approval.
Moreover, Trump Media has announced securing approximately $2.3 billion through debt and equity subscription agreements with around fifty investors, marking another significant Bitcoin treasury deal. The company has filed a registration statement with the SEC to register nearly 56 million shares of equity and 29 million shares linked to convertible notes for resale by investors. Devin Nunes, CEO and President of Trump Media, emphasized that these financial activities aim to supply the capital needed for the company’s expansion and strategic growth. In other developments, Rumble, a video-sharing platform, announced its participation in the Bitcoin 2025 conference, where its CEO will discuss free speech in relation to Bitcoin and Rumble’s platform. Rumble’s strategy reflects its commitment to integrating cryptocurrency into its business model.
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