President Donald Trump plans to launch a cryptocurrency exchange-traded fund, or ETF, through his media company. Trump Media & Technology Group announced Tuesday it filed with the SEC to create the “Crypto Blue Chip ETF.” The fund would invest 70% in bitcoin, 15% in ethereum, and smaller portions in solana, Ripple’s cryptocurrency, and Crypto.com’s token. Cryptocurrency ETFs allow investors to gain exposure to digital assets without directly purchasing them. Trump, once a bitcoin skeptic, now supports the industry, which has contributed significantly to his campaigns. Critics accuse him of mixing personal business with policy, raising concerns about ethics.
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