Trump Backed ETFs Adds Fuel to Crypto ETF Filing Frenzy

The race to launch crypto ETFs is heating up. High profile filings and a changing regulatory landscape is fueling investor excitement. Leading the headlines is Trump Media & Technology Group, which has filed to launch a dual crypto ETF offering exposure to both Bitcoin (BTC) and Ethereum (ETH). The move marks the second such filing from the company in two weeks which shows its growing interest in digital assets.

Filed under the Truth Social brand, the proposed ETF would be backed by BTC and ETH custodied by Crypto.com (Foris DAX Trust Company) and listed on NYSE Arca. The ETF’s goal is to simplify crypto investing by offering direct exposure to the two largest cryptocurrencies without the complexity of managing wallets and private keys. This filing comes after the SEC approved Trump Media’s $2.3 billion Bitcoin treasury registration and expands on its earlier $2.5 billion plan to acquire Bitcoin.

The Trump backed ETF comes at a time when momentum is building across the crypto ETF space. CoinShares also filed for a U.S. Solana (SOL) spot ETF on the same day, joining at least seven other firms including Fidelity, Grayscale, VanEck, and Franklin Templeton with similar Solana focused proposals under SEC review. Analysts estimate that up to eight Solana ETF applications are now awaiting regulatory response.

Beyond these high profile filings, the broader trend is even more notable: 2025 has already seen at least 31 altcoin ETF filings, according to Cointelegraph Research. This includes applications for ETFs based on XRP, Dogecoin, BNB, Avalanche, and even memecoins like one based on Donald Trump’s own token. According to Bloomberg ETF analyst Eric Balchunas, Litecoin and Solana ETFs are likely to be approved next.

Behind the wave of filings is a dramatic shift in regulatory tone. Under newly confirmed SEC Chair Paul Atkins, the agency has begun rolling back rules set under former Chair Gary Gensler and is adopting a more collaborative approach.

Whether or not the crypto market is poised for an altcoin season, the flood of ETF applications suggests growing institutional interest and a regulatory environment more open to enabling it.