Trump Media plans to launch a crypto ETF with popular cryptocurrencies, following SEC guidelines.

President Donald Trump’s company, Trump Media & Technology Group, plans to launch a crypto exchange-traded fund (ETF) tied to five popular cryptocurrencies, including bitcoin, ethereum, and solana. The fund, named “Crypto Blue Chip ETF,” will also hold Ripple and Crypto.com’s coins. This move follows the SEC’s new guidelines for crypto ETF issuers.

The SEC’s regulatory environment under the Trump administration has favored crypto-related companies, dropping or pausing enforcement actions. Trump, once a bitcoin skeptic, now embraces the industry, which has supported him financially. Allegations of corruption have arisen due to the Trump family’s involvement in expanding crypto businesses.

Despite criticism, Trump remains confident in his administration’s efforts to establish the U.S. as a global crypto hub. He dismisses allegations of improper investments and emphasizes the importance of the U.S. competing with China in the crypto space.

Read more at Yahoo Finance: Trump Media files for ‘Crypto Blue Chip ETF’ with SEC