Donald Trump’s Truth Social is stepping into the Bitcoin arena with a fresh move. They filed for a Bitcoin ETF.
On June 3, Yorkville America Digital, the crypto asset manager linked to Trump Media Technology Group, tossed their hat in the ring by submitting this ETF filing to the SEC.
Welcome to the big league!
The product is designed to track Bitcoin’s price and plans to be listed on NYSE Arca, the big league for ETFs.
The custodian? Foris DAX Trust Company, the same guys who guard Crypto.com’s assets.
But before you get too excited, the filing didn’t spill all the beans, no ticker symbol or management fees revealed yet.
It’s like waiting for your favorite office coffee machine to finally get fixed, anticipation mixed with a bit of mystery.
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
Generational transfer?
And there’s an interesting rumor, because Trump may have handed over ownership of his media empire to his son, Donald Trump Jr., but he’s still the main man behind the scenes.
This move further ties his brand to the crypto industry, which already includes NFTs, stablecoins, memecoins, and even a mining firm.
Critics? Oh, they’re raising eyebrows about potential conflicts between Trump’s political role and these crypto ventures.
Sounds like a classic drama where your boss suddenly starts moonlighting in something totally unexpected.
While crypto watchers lauded the business savvy and market watchdogs raised alarm over another breach in conflict of interest, US President-elect Donald Trump and his family drew a pretty $15 billion overnight from his $TRUMP meme coin.
We take a look at the finer details here:… pic.twitter.com/jGmY5Zh92L
— Mint (@livemint) January 19, 2025
Building an empire
This isn’t Trump Media’s first rodeo in the ETF game. Back in February, they filed for a Truth.Fi Bitcoin Plus ETF and set aside a cool $250 million for their fintech platform, Truth.Fi.
Plus, CEO Devin Nunes spilled the beans in April about plans to launch a crypto wallet and utility token for their video streaming service, Truth+. Imagine paying your subscription with crypto, sounds fun!
Now, the SEC’s got 45 days to decide if this ETF gets the green light, though they can drag it out up to 240 days, so don’t hold your breath.
They’re grandmasters in delaying decisions. If approved, this ETF will jump into a crowded ring already dominated by BlackRock’s iShares Bitcoin Trust.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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