Trump-Backed Truth Social Bitcoin ETF Filed With SEC Amid Expanding Crypto Ventures
The crypto ambitions of U.S. President Donald Trump may soon deepen with a new move toward Wall Street.
The crypto ambitions of U.S. President Donald Trump may soon deepen with a new move toward Wall Street.
A filing submitted on June 3 by NYSE Arca to the U.S. Securities and Exchange Commission (SEC) reveals plans for a Bitcoin exchange-traded fund (ETF) branded under Truth Social, the social media platform owned by Trump Media & Technology Group (TMTG).
The ETF, proposed by crypto asset manager Yorkville America Digital in partnership with TMTG, aims to track the price of Bitcoin and list on the New York Stock Exchange Arca exchange. Foris DAX Trust Company — the custodian behind Crypto.com’s assets — is named as the proposed custodian. Although the filing lacks details such as a ticker symbol or fee structure, it marks the latest step in a broader crypto push by Trump’s media company.
Trump’s company just filed for a Truth Social Bitcoin ETF, which will track spot bitcoin and list on NYSE. pic.twitter.com/I3ejMbhyl1
— Eric Balchunas (@EricBalchunas) June 3, 2025
This move would place the Truth Social Bitcoin ETF in a market already dominated by major players, such as BlackRock, whose iShares Bitcoin Trust (IBIT) currently manages nearly $69 billion in assets.
Trump, who holds a majority stake in TMTG but transferred his shares into a trust managed by his son, Donald Trump Jr., before resuming presidential duties, has faced criticism over his growing connections to the crypto industry. Skeptics argue the ventures pose ethical dilemmas, citing potential conflicts of interest between his political position and financial stakes.
TMTG’s crypto endeavours extend well beyond ETFs. The company has ties to multiple non-fungible token (NFT) collections, two memecoins, a stablecoin, a mining firm, and its own crypto platform with a proprietary token. In April, TMTG signed a partnership with Yorkville America Digital and Crypto.com to launch a lineup of “Made in America” digital asset ETFs.
The latest ETF proposal, submitted via a 19b-4 filing, kicks off the SEC’s formal review period. Regulators now have 45 days to respond, though that timeline can be extended multiple times, up to a maximum of 240 days. A final decision is expected no later than January 29, 2026. Meanwhile, Yorkville must also submit an S-1 registration, detailing the ETF’s operational model, investor risk disclosures, and use of proceeds.
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