Truth Social Submits Application for Spot Bitcoin ETF Linked to Trump
The parent company of Truth Social has begun the process of filing for a spot Bitcoin exchange-traded fund, signaling its entry into a competitive cryptocurrency investment arena.
According to a filing with the Securities and Exchange Commission on June 3, NYSE Arca submitted a Form 19b-4 for Yorkville America Digital, the asset manager linked to the proposed Truth Social Bitcoin (BTC) ETF. Yorkville is collaborating with Trump Media & Technology Group, the organization behind Truth Social and the fintech initiative Truth.Fi.
The aim of the ETF is to replicate the price fluctuations of Bitcoin and be listed on NYSE Arca. While the filing did not provide a ticker symbol or management fee, it did name Foris DAX Trust Company, the custodian for Crypto.com, as the proposed custodian for the ETF.
The SEC has a 45-day period to decide on the filing or to postpone it. Under current regulations, the agency may take up to 240 days for a final ruling, with the latest decision date set for January 29, 2026. Additionally, Yorkville must submit an S-1 registration detailing the ETF’s structure, associated risks, and expected use of funds.
Although former President Donald Trump owns the majority of TMTG, his shares are held in a trust managed by his son, Donald Trump Jr., since Trump returned to politics. Importantly, the ETF documentation makes no direct reference to Trump.
This ETF will enter an already crowded market comprising 11 authorized spot Bitcoin ETFs, with BlackRock’s IBIT leading the way, boasting nearly $69 billion in assets. Even so, a Trump-affiliated product could attract a politically motivated investor base or spark further scrutiny concerning potential conflicts of interest.
“The Trust aims to mimic Bitcoin’s price performance,” the filing states, “before accounting for the Trust’s expenses and liabilities.”
TMTG’s ambitions in the cryptocurrency sector go beyond this ETF. In April, the company partnered with Crypto.com and Yorkville to launch “Made in America” cryptocurrency ETFs and has pledged up to $250 million from its reserves to fund these initiatives. Last week, TMTG successfully raised $2.4 billion to create a Bitcoin treasury.
Furthermore, Trump Media filed for the trademark “Truth.Fi Bitcoin Plus ETF” in February, as part of its expanding footprint in fintech and cryptocurrency. Critics contend that Trump’s involvement in the crypto space might blur the lines between his business interests and political activities. Nevertheless, the ETF marks a significant advancement in the mainstream acceptance of cryptocurrency, reinforced by political influence.
