Trump Media plans to launch a 'Crypto Blue Chip Fund' as its third venture into the digital asset space, with the ETF set to hold cryptocurrencies like bitcoin, ether, and solana.
The company has previously filed for a bitcoin-ether product and one connected solely to bitcoin. If launched, these funds would join more than 10 existing bitcoin-specific funds in the U.S.
Trump's growing ties to the crypto world have drawn criticism from ethics experts due to concerns about potential conflicts of interest. The White House maintains that Trump is isolated from his businesses.
The increasing involvement of financial institutions like JPMorgan and Robinhood in tokenization projects signifies a convergence of traditional finance and crypto markets, raising questions about the future of market regulation and decentralized finance.