Trump’s Wild Ride into the Crypto Jungle: ETFs, Tweets, and Tangles!

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In a move that can only be described as “what on earth is happening?”, a company with the backing of none other than the President of the United States has decided to throw its hat into the cryptocurrency ring. Yes, you heard that right! They’ve filed with the U.S. Securities and Exchange Commission (SEC) for a joint Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF). Because why not? 🤷‍♂️

According to a shiny new S-1 Filing with the SEC, President Trump’s Truth Social—a social media platform that’s about as popular as a root canal—has officially filed for this BTC/ETH ETF. It’s like they woke up one day and thought, “Let’s make some financial history!”

Now, let’s take a moment to appreciate the legalese in the filing, which states:

“The purpose of the Trust is to own bitcoin and ether transferred to the Trust in exchange for Shares issued by the Trust. Each Share represents a fractional undivided beneficial interest in the net assets of the Trust.”

“The assets of the Trust consist primarily of bitcoin and ether held by the Bitcoin and Ether Custodian on behalf of the Trust.”

Ah, yes, nothing says “trustworthy” like a trust that’s all about trust! The fund is being sponsored by Yorkville America Digital, and crypto custody will be handled by Foris DAX Trust Company, LLC, which is somehow connected to the digital asset exchange Crypto.com. It’s like a family reunion of financial institutions! 🎉

In a delightful twist of fate, last month, Trump reportedly blackballed a lobbying firm for allegedly manipulating him into posting about XRP on social media. Because, of course, that’s what you do when you’re the President—get manipulated into tweeting about cryptocurrencies. Classic! 😂

In early March, Trump announced on his Truth Social platform that he directed the Presidential Working Group on Digital Asset Markets “to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA.” It’s like he’s assembling the Avengers of cryptocurrency! 🦸‍♂️

Politico, citing “two people familiar with the incident” (which sounds suspiciously like a vague reference to a friend of a friend), reported that Trump was goaded into making the post by an employee of the lobbying firm Ballard Partners. This unnamed employee apparently “buttonholed” Trump at Mar-a-Lago and encouraged him multiple times to publish the post, even providing him with the text of a message she thought the president should write. Talk about a dedicated employee! 📜

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2025-06-16 23:02