Another Trump Crypto Offering? Sure, Why Not.

If the Trump family’s meme coin, stablecoin, NFTs, bitcoin mine, and crypto-lending platform weren’t enough for consumers rabid for presidential-cryptocurrency offerings, there was great news on Tuesday when the president’s social-media company filed with the Securities and Exchange Commission to launch a new investment tool called an exchange-traded fund.

Trump Media & Technology Group has filed to operate an ETF, the popular investment tool that bundles assets like stocks and bonds together. In this case, TMTG would be bundling cryptocurrencies like bitcoin, ether, XRP, and solana — basically a spread of the largest coins out there — and calling it the “Truth Social Crypto Blue Chip ETF.” The filing states that the ETF would focus 70 percent of its investment in bitcoin alone. (It is the third ETF filing from Trump’s social-media company; the other two focused on bitcoin and a bitcoin-ethereum blend, though neither have been realized.)

Is it a blue-chip fund if you’re investing in the most obvious names in the market? Maybe. But a better question might be, Why pay a fee when you could just buy bitcoin and a few other tokens as a hedge? To invest in the president, naturally. TMTG, of which Trump owns a majority of the shares, has long been a vehicle for investors to bet on Trump’s momentum. An ETF could be an extension of this process — parking money with a Trump-backed company while getting some market exposure to the big cryptocurrencies.

Whether or not TMTG actually gets this ETF going, the company is making moves elsewhere — perhaps to actually get some revenue coming in. Though it has a market cap of over $5 billion, the company saw $186 million in losses last year. On Monday, Trump Media announced a new international streaming platform called Truth+, which features talk shows from other networks and documentaries like Lizard People: Rulers of Time and Space.