This comes after Trump Media said in April that it is exploring the possibility of a utility token within a Truth digital wallet.
BTC jumped within 30 minutes of Trump’s rate-cut post as analysts weighed inflation risks and the impact of a potential 300 bp cut on asset prices. (157 characters)
Trump Media & Technology Group (TMTG) quietly lodged an S-1 with the US Securities and Exchange Commission late on July 8, seeking approval for the “Truth Social Crypto Blue Chip ETF.” Despite a swirl of social-media posts placing the paperwork in early June, the SEC’s time-stamp confirms the filing date as July 8. The prospectus sketches a five-coin portfolio weighted approximately 70 percent to bitcoin, 15 percent to ether, 8 percent to solana, 5 percent to Cronos and 2 percent to XRP, making it the first Trump-branded product to diversify beyond the two largest digital assets. The trust, structured as a Nevada business trust and sponsored by boutique issuer Yorkville America Digital, aims to list its shares on NYSE Arca. Foris DAX Trust — the US institutional arm of Crypto.com — is named digital-asset custodian, while authorized participants will create and redeem blocks of 10,000 shares in kind or for cash, subject to NYSE rule changes. The prospectus also discloses that staking rewards on ether, solana and cronos may be passed through to the fund, a design choice that would set a precedent among US spot-crypto ETFs. Related Reading: Pundit Explains Why XRP Stands To Gain Big From Ripple’s RLUSD Analyst Eric Balchunas of Bloomberg distilled the filing in two succinct posts on X: “New filing for the Truth Social Crypto Blue Chip ETF, which will be a spot crypto basket holding Bitcoin, Ether, Solana, XRP and Cronos,” he wrote; in a follow-up, he reproduced the pivotal language: “the Trust’s allocation… is initially expected to approximate 70% bitcoin, 15% ether, 8% SOL, 5% CRO and 2% XRP.” Those percentages now serve as the market’s working model for how the Trump universe ranks crypto’s ‘blue chips.’ Why Solana, Cronos And XRP? Overall, the allocation may serve as an implicit ranking of the top five crypto assets as viewed through the lens of Trump’s inner circle. Binance top trader by PnL Nachi (@alphawifhat) commented via X: “I think it’s useful to look at the allocation ratio of the Truth Social Crypto ETF […] I see this as an indication of how Trump’s crypto team looks at the top crypto assets and what are the top 5 they want to value the most. This could be a catalyst to pump CRO as it’s a dark horse.” Solana’s climb to an 8 percent weight is more than a momentum trade. CME Group this spring announced cash-settled Solana futures pending CFTC sign-off, extending the same institutional rails that helped bitcoin and ether graduate into ETF form. Notably, the SEC has set a July deadline for spot Solana ETF refilings, indicating a potential approval before the October 2 deadline. Related Reading: XRP Set To Shock The Crypto Market With 30% Share, Analyst Predicts Cronos leaps over better-capitalized tokens because Crypto.com is literally powering Trump’s ETFs. “We are proud to partner with Trump Media and Yorkville… including the first-of-its-kind basket of tokens featuring CRO,” Crypto.com co-founder Kris Marszalek said in March when the multi-year, roughly $2.7 billion partnership was unveiled. Under the agreement, Crypto.com supplies custody, liquidity and back-end order routing for all Truth-branded funds. XRP brings up the rear at two percent, reflecting both its renewed legitimacy and its still-nascent institutional plumbing. On June 27, Ripple Labs announced that it will withdraw its cross appeal against the SEC. The token’s modest two-percent slice is politicized as much as it is financial. In early March a staffer from Ballard Partners—the K-Street shop that counts Ripple as a client—slipped Donald Trump draft language for a Truth Social post urging that XRP, Solana and Cardano be placed in a national “Crypto Strategic Reserve.” Trump hit “post” and only later discovered the Ripple connection; insiders told Politico he “was furious and felt like he’d been used.” Despite that, the inclusion of XRP still shows Trump’s ties with Ripple. At press time, XRP traded at $2.33. Featured image created with DALL.E, chart from TradingView.com
Jerome Powell’s cautious rate policy sparks fierce criticism and succession talks, putting his Fed Chair tenure under unprecedented scrutiny.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The "Truth Social Crypto Blue Chip ETF" will primarily consist of BTC, ETH, SOL, XRP, and CRO.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Elon Musk has confirmed that his newly announced political venture, the America Party, would support Bitcoin. The statement came during a conversation on X (formerly Twitter), where Musk responded to a question about whether the new party would embrace the leading crypto. According to him: “Fiat is hopeless, so yes [we would embrace BTC].” This […]
The post Elon Musk’s America Party embraces Bitcoin appeared first on CryptoSlate.
Regulatory tailwinds are set to usher in an "equity tokenization wave," according to analysts at research and brokerage firm Bernstein.
The America Party formed out of a rift between Musk and President Trump over the 'Big Beautiful Bill'
One analyst said Trump's new trade negotiation date of Aug. 1 eased worries of incoming volatility.
The America Party's launch follows Elon Musk's highly publicized dispute with former close-ally Donald Trump over the $3.4 trillion budget bill.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Senator Cynthia Lummis has introduced a standalone bill to pursue the same objectives to ease up on several tax concerns involving digital assets activity.
Senator Cynthia Lummis has introduced a standalone bill to pursue the same objectives to ease up on several tax concerns involving digital assets activity.
The latest comments from government officials at the center of that effort suggest U.S. bitcoin advocates may still have a wait ahead of them.
The latest comments from government officials at the center of that effort suggest U.S. bitcoin advocates may still have a wait ahead of them.
With U.S. policy finally unlocking growth, Santori sees now as the moment to invest in the convergence of the two worlds.
The DOJ alleges that scammers posed as the Trump-Vance Inaugural Committee to defraud a donor of a total $250,300 in cryptocurrency.
The Trump family received an estimated $390 million from World Liberty's token sale and $150 million from the Official Trump memecoin launch.
Despite a packed July agenda including Trump's budget bill, tariff decisions, and policy deadlines, K33 expects a subdued crypto market.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bitcoin rose 0.54% to $107,937 after analyst Will Clemente said Trump’s deficit comments reinforce the bull case for BTC and gold.
There has been a spike in IRS warning letters sent to crypto investors over the past few weeks, according to CoinLedger CEO David Kemmerer.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The ramp-up in daily inflows comes as bitcoin's price rebounds amid a dollar index weakness tailwind, according to an analyst.
The Trump-backed crypto project also plans to release the first audit of its USD1 stablecoin in the coming days.
The Bitcoin price surge above $106,000 this week has reignited bullish sentiment across the market, with analysts suggesting that the stars are aligning for a rally to a new all-time high. From shifting geopolitical tensions to a major regulatory pivot in the United States (US), multiple macroeconomic factors appear to be setting the stage for Bitcoin’s next explosive move. Ceasefire And Rate Cut Buzz Fuel Bitcoin Price Optimism Over the weekend, the Bitcoin price briefly slipped, triggering over $200 million in leveraged long liquidations. However, this dip proved short-lived as the flagship cryptocurrency rebounded swiftly above $100,000 following US President Donald Trump’s announcement of a total ceasefire between Israel and Iran. This sudden de-escalation helped ease global market anxiety, pushing Bitcoin past $106,000 and oil prices sharply down from $77 to under $70. Related Reading: Crypto Pundit Reveals Why This Bitcoin Bull Market Feels Different As Crypto Enters ‘New Era’ Simultaneously, Optimism is building that the US Federal Reserve (FED) could begin cutting interest rates sooner than expected. Sharing new data by CME Group’s FedWatch Tool, crypto analyst CW disclosed that the odds of a FED rate cut have increased to 18.6% by July 30 during the scheduled FOMC meeting. The report reveals that 81.4% of market participants believe the FED to keep rates unchanged at their current level. However, FedWatch’s data indicates growing expectations for a rate cut by the September FOMC meeting, with 79% betting on a reduction and only 21.3% anticipating no change. Notably, lower interest rates generally benefit risk assets like Bitcoin by increasing liquidity and boosting investor sentiment. With geopolitical tensions easing and a possibly looser monetary policy on the horizon, Bitcoin could gain further momentum, potentially climbing to $110,000. Supporting this bullish forecast, crypto analyst Justin Bennett suggests that Bitcoin is gearing up for a rally toward a new ATH of $110,000 following its recent reclaim of the key $103,500 level. Although a retracement to around $102,500 remains possible, Bennett believes that once BTC cleans up support around $103,400, formed during Monday’s expansion, the next move could be parabolic. Regulatory Win Solidify Bitcoin’s Position In TradFi Beyond anticipated rate cuts and ceasefire announcements, the US FED recently made a landmark policy shift that could have profound long-term implications for Bitcoin and the broader crypto market. By removing “reputational risk” as a factor in evaluating crypto firms’ access to bank servicing, the FED is effectively ending a key pillar of Operation Checkpoint 2.0—a campaign that restricted over 30 crypto and fintech companies from traditional financial infrastructure. Related Reading: Bitcoin Price Deviates From Global M2 Money Supply, Is The Bull Run Over? This recent change clears the way for greater institutional involvement in crypto. The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) have also followed suit, green-lighting crypto activities for banks and allowing them to participate in the digital assets market without prior approval. Together, these moves mark a regulatory pivot that not only legitimizes the crypto industry but could also accelerate demand and capital inflows into Bitcoin, potentially boosting its already significant valuation. Featured image from Pixabay, chart from Tradingview.com
Senator Cynthia Lummis said her realistic goal for the crypto bills is the close of 2025, despite President Donald Trump's wish to sign legislation in August.
Federal Reserve Chair Jerome Powell’s appearance on Capitol Hill Tuesday left risk-asset traders with a single, binary question: does the most interest-sensitive summer in years end with a crypto breakout or a macro-driven crash? In a prepared statement, Powell stressed that “inflation has eased significantly from its highs in mid-2022 but remains somewhat elevated,” adding that the Federal Open Market Committee is “well-positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.” Crypto’s Fate May Be Sealed In July For crypto markets already oscillating on every nuance of policy guidance, the message was clear: the next four weeks—anchored by the 12 July CPI release and the 19 July payrolls report—will decide whether July’s FOMC delivers relief or a reality check. POWELL: WE WOULD EXPECT TO SEE MEANINGFUL TARIFF INFLATION EFFECTS JUNE, JULY AUGUST POWELL: IF WE DON’T SEE THAT, THAT WOULD LEAD TO CUTTING EARLIER — *Walter Bloomberg (@DeItaone) June 24, 2025 Powell’s caution sits atop a rare public split inside the Board itself. Governors Michelle Bowman and Christopher Waller, both Trump appointees, have openly argued that tariff-related price spikes are likely to be “one-time shifts” and therefore should not stand in the way of an early cut—potentially as soon as the 30 July meeting. Seven of their colleagues disagree, laying out projections that keep policy unchanged through December. Powell, for his part, told lawmakers: “I don’t think we need to be in any rush, because the economy is still strong.” Related Reading: Crypto Bull Run Over? Here’s What A Top Trader Just Said Markets reacted by flattening the front end of the curve. Two-year Treasury yields fell to 3.806 percent, while the benchmark 10-year dipped to 4.285 percent—both lows not seen since early May—after the testimony and a surprise cease-fire in the Middle East turbo-charged a global “risk-on” bid. Yet expectations for July remain finely balanced: CME FedWatch shows that traders have whittled the probability of a first 25-basis-point cut to roughly 19%. Crypto traded the cross-currents rather than the headline. Bitcoin, which had cratered to $99,000 on Monday, reclaimed $106,000 by Wednesday morning, mirroring the rebound in equities and high-beta currencies as the dollar slumped on falling yields. Ethereum, meanwhile, held above $2,400—even as Powell’s tone was widely described as hawkish. The broader crypto complex moved in sympathy, with BNB punching through $644 and Solana stabilising near $146. Related Reading: Crypto Gets A Green Light From Spanish Banking Giant Veteran traders on X distilled the stakes. Pseudonymous analyst Byzantine General wrote, “We got a lot of clarity now. All eyes on the July CPI print.” Nic from CoinBureau added that July “is in play—maybe—but nothing’s locked in,” as Powell’s testimony brought no big surprises. Meanwhile, Jim Bianco commented: “Trump appointees Waller and Bowman are suggesting a July cut. Powell is reiterating ‘no.’ Will the July FOMC meeting see at least two dissenters?” For now, Powell’s “watch and wait” stance has bought the FOMC four more weeks of optionality. If July inflation confirms the down-trend, the policy door swings open, and the next rally for crypto could morph into a full-blown melt-up. If it doesn’t, the crash could come just as fast. As Byzantine General put it, the market “got clarity.” What it did not get is comfort. At press time, Bitcoin traded at $106,892. Featured image created with DALL.E, chart from TradingView.com