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Trump Media Files ‘Crypto Blue Chip’ ETF, Igniting Regulatory Debate

Crypto

Business Honor
09 July, 2025

Former president’s crypto ETF sparks controversy amid regulatory shifts and political concerns.

Donald Trump's media company has taken a significant step into the world of cryptocurrency. Trump Media & Technology Group filed with the U.S. Securities and Exchange Commission (SEC) to offer a new cryptocurrency exchange-traded fund (ETF) named the "Crypto Blue Chip ETF." The fund will make investments in five leading digital currencies: Bitcoin (70%), Ethereum (15%), Solana (8%), Ripple's XRP (5%), and Crypto.com's CRO token (2%).

This is a drastic change for Trump, who was previously a vocal critic of Bitcoin and cryptos. Now, he is wholly embracing digital assets, echoing closely with the crypto space. The new ETF filing comes on the heels of an earlier proposal for a more straightforward fund focused on Bitcoin and Ethereum. It's still unclear if that earlier effort is going through.

Fueling the debate further, the SEC—now being perceived as more crypto-friendly in Trump's presence—just published revised guidelines easier to use to initiate crypto ETFs. It also partially reversed some enforcement actions taken against digital asset companies, which critics say is politically motivated. This new ETF creation has sparked backlash. Democrats have criticized Trump for utilizing government influence to support enterprises that are affiliated with his interests and those of his supporters. Even some within the crypto sector fear that Trump's political ties could undermine the industry's struggle for legitimacy.

Despite the controversy, Trump dismissed the criticism. "If we didn't have it, China would," he said in an interview, and added that his administration is bringing the U.S. "the world capital for crypto. "As Trump further embeds himself in cryptocurrency, the argument about regulation, transparency, and political influence in the world of cryptocurrency is only intensifying.