The Blockchain Bulletin, June 18: Truth Social Seeks Bitcoin and Ethereum ETF Approval
Hey folks! Welcome to the latest edition of the Blockchain Bulletin, where we report the latest news updates on our watch in the past 24 hours. From Trump Media’s ETF move to Musk’s massive funding surge, the market is stirring with fresh power plays.
In a surprising but emotional pivot, Trump Media’s Truth Social is stepping into the crypto spotlight with a dual-spot ETF. Days after gaining regulatory approval for its Bitcoin treasury initiative, the firm filed with the SEC to launch the Truth Social Bitcoin and Ethereum ETF. This marks its first direct entry into crypto markets and shows a growing alignment between political platforms and decentralized finance strategies, which is backed by Yorkville America Digital.
JPMorgan Signals Major Crypto Expansion with “JPMD” Trademark
JPMorgan Chase has submitted a new trademark filing under the name “JPMD,” signaling expanded crypto ambitions. The trademark covers services in digital asset trading, settlement, custody, tokenized payments, and blockchain-based brokerage. Though a stablecoin isn’t confirmed, the wide service scope strongly hints at JPMorgan preparing for further crypto integrations across its global operations.
Regulatory Updates
VanEck has made a strategic leap as its proposed Solana ETF, titled “VANECK SOLANA TR COM SHS BEN INT,” appeared on the DTCC system under the ticker VSOL. The listing under the ‘D’ settlement category implies readiness for electronic clearing and trading once exchange and regulatory approvals are finalized. This represents a critical step in bringing Solana exposure to mainstream institutional portfolios.
Eric Trump responded to media reports that are suggesting his involvement in a Tron-backed public listing. In a social media statement, he praised Tron founder Justin Sun as a friend but stated he had no role in the firm’s corporate strategy. The clarification follows reports that SRM Entertainment is planning a reverse merger with Tron support, signaling how deeply crypto rumors can impact public figures.
Related: Toshi Price Prediction 2025-35: Will It Hit $0.10 by 2035?
Institutional Moves
Elon Musk’s AI startup, xAI, is pushing forward with a $4.3 billion equity raise, following a separate $5 billion debt plan announced earlier. These funds built on xAI’s previous $12 billion from Series B and C rounds, backed by top-tier investors including BlackRock and Fidelity. The move highlights Musk’s aggressive focus on merging AI and digital infrastructure beyond traditional models.
On the other hand, the Blockchain Group confirmed a €7.2 million raise through its ATM-style agreement with TOBAM. Passed under a shareholder resolution, the company will issue over 1.6 million shares at an average price of €4.49. The capital will support its strategy of increasing Bitcoin-per-share value, with the listing confirmed on Euronext Growth Paris, bypassing AMF prospectus requirements.
Moreover, DDC Enterprise Limited has secured up to $528 million to grow its BTC reserves and stake its claim among the top BTC-holding corporations. The capital comes through equity, convertible notes, and a credit facility, with most funds dedicated to direct Bitcoin acquisition. The firm’s move positions it as a major contender in the expanding corporate treasury competition.
Market Overview
The cryptocurrency space has seen selling pressure for the past 24 hours. Bitcoin was down 1.75% to $105,494.46 and Ethereum 2.29% to $2,534.84, according to CoinMarketCap. The market cap of Bitcoin is now $2.09 trillion, with trading volume slightly reduced to $53.24 billion. The market cap of Ethereum dropped to $306 billion as the volume fell to $23.62 billion. Both currencies recorded a steady slide with weak intra-day recuperations. Beneath a bearish outlook, the market seems to be entering short-term consolidation.
