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Trump Backed ETFs Adds Fuel to Crypto ETF Filing Frenzy
Trump Media’s latest crypto ETF bid adds fuel to a record-breaking year of altcoin ETF filings and shifting SEC tides.
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.
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About the Author
Eric Pan has nearly a decade of experience across institutional, retail, and crypto finance, with roles at State Street, Sculptor Capital Management, Betterment, and leading digital asset custodians Anchorage Digital and BitGo. Now a finance content creator, he draws on his traditional finance roots and crypto expertise to help demystify markets, investing, and digital assets for a broader audience. A native New Yorker, Eric brings a grounded, insider perspective to the evolving world of finance.
Disclaimer
Please note that this article reflects the author's personal views and does not represent the opinions of the publication or its affiliates. It is for informational purposes only and does not constitute investment advice. It is essential to seek guidance from a registered financial professional before making any investment decisions.
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