17.06.2025 17:00
Trump Media & Technology Group (TMTG), the company behind Truth Social, is making a significant expansion into both the cryptocurrency and telecommunications sectors. A recent filing with the US Securities and Exchange Commission (SEC) reveals their application for a Bitcoin and Ethereum exchange-traded fund (ETF). This ambitious move coincides with the launch of "Trump Mobile," a new smartphone and service plan.
The proposed ETF, as detailed in the June 16th registration statement, would allocate 75% of its assets to Bitcoin and the remaining 25% to Ethereum. Should the SEC approve, this ETF, sponsored by Yorkville America Digital, will be listed on the NYSE Arca. A notable feature is the plan for direct custody of the cryptocurrencies, meaning the fund will hold the digital assets themselves, unlike some ETFs which utilize futures contracts. Crypto.com has been selected as the sole custodian, prime execution agent, and will provide staking and liquidity services for the Ethereum holdings, potentially addressing SEC concerns regarding security and oversight. However, SEC approval remains uncertain, given the history of delays and rejections of previous spot crypto ETF applications due to regulatory scrutiny over market manipulation and investor protection.
Simultaneously, TMTG unveiled "Trump Mobile" at a Trump Tower press event. This venture introduces a $499 Trump-branded smartphone, the "T1 Phone," launching in September, alongside a $47.45 monthly service plan—a deliberate nod to Trump's 47th presidential position. The phone, manufactured domestically, will offer 5G service through existing major carriers, leveraging the Trump brand license rather than constructing a new network infrastructure. US-based call centers will provide customer support.
Trump Mobile's competitive edge lies in its bundled services. Donald Trump Jr. emphasized the inclusion of telemedicine, international texting to 100 countries, and roadside assistance within the flat monthly fee. This strategy aims to differentiate the service from established carriers by offering comprehensive value beyond basic voice and data services, integrating healthcare and automotive assistance into a single bill. Trademark applications filed by DTTM Operations further solidify their foray into the telecommunications market, encompassing services and accessories under the Trump brand.
