Trump Media’s Eyes SEC Approval For Dual Bitcoin and Ethereum ETF

NYSE Arca, the digital arm of the New York Stock Exchange, has submitted a rule change proposal to the US Securities and Exchange Commission (SEC) to list and trade shares of Truth Social Bitcoin and Ethereum ETF. According to the 19-b4 form, the proposed ETF’s ticker symbol is BT.

The SEC review process will begin after the 19b-4 form is posted on the Federal Register. This can take as little as 45 days or may be extended up to 240 days.

NYSE Arca Submits 19b-4 For Trump Media’s Bitcoin and Ethereum ETF

The dual ETF is designed to track the price performance of Bitcoin (BTC) and Ethereum (ETH). It seeks to provide investors with a regulated way to gain exposure to the two largest cryptocurrencies without needing to directly own them, manage digital wallets, or deal with cryptocurrency exchanges.

“Pursuant to the provisions of Section 19(b)(1) of the Securities Exchange Act of 1934, as amended (the “Act” or the “’34 Act” or the “Exchange Act”) and Rule 19b-4 thereunder,2 NYSE Arca, Inc. (“NYSE Arca” or the “Exchange”) proposes to list and trade shares of the following under NYSE Arca Rule 8.201-E: Truth Social Bitcoin ETF, B.T. (the “Trust”),” the filing reads.

The latest filing comes over a week after a Form S-1 registration statement was filed with the SEC. As per the filing, the Truth Social Bitcoin and Ethereum ETF will initially have a 3:1 ratio of Bitcoin to Ethereum holdings 

This means that for every unit of ETH held, the Trust will hold approximately three times that amount in BTC. However, the sponsor has the discretion to adjust this allocation over time.

“The purpose of the Trust is to own Bitcoin and Ether transferred to the Trust in exchange for Shares issued by the Trust. Each Share represents a fractional undivided beneficial interest in the net assets of the Trust,” the S-1 noted.

Furthermore, cryptocurrency exchange Crypto.com is the custodian, prime execution agent, and liquidity provider. The licensor of the Bitcoin and Ethereum ETF is Trump Media and Technology Group Corp.

The entity operates the social media platform Truth Social. Meanwhile, Yorkville America Digital is the ETF’s sponsor.

Notably, this is Truth Social’s second ETF filing, signaling an aggressive push to diversify its portfolio beyond social media. Earlier this month, NYSE Arca filed a 19b-4 to list a Bitcoin-only Truth Social Bitcoin ETF. The SEC has until January 29, 2026, to decide on this BTC ETF.

In late May, Trump Media announced plans to buy $2.3 billion in Bitcoin for its treasury. However, the firm has yet to make a purchase. Still, this reflects TMTG’s commitment to digital assets.