Charles Esther
US President Donald Trump’s growing involvement in cryptocurrency may soon expand further.
Filings reveal plans to launch a Bitcoin exchange-traded fund (ETF) branded with his social media platform, Truth Social.
On June 3, the NYSE Arca stock exchange submitted the ETF application to the Securities and Exchange Commission (SEC) on behalf of Yorkville America Digital, a crypto asset manager partnered with Truth Social’s parent company, Trump Media & Technology Group.
Trump remains the majority owner of Trump Media but transferred his shares into a trust controlled by his son, Donald Trump Jr., before resuming his presidential duties.
Details of the Truth Social Bitcoin ETF
The ETF aims to list on the NYSE Arca exchange and track the price of Bitcoin (BTC), which currently trades around $105,408.
The filing did not disclose specifics such as the management fee or ticker symbol.
Foris DAX Trust Company, known as the custodian of Crypto.com’s assets, is named as the proposed custodian for the ETF.
Competition in the Bitcoin ETF Market
If approved, the Truth Social Bitcoin ETF would enter a competitive market already hosting 11 similar funds.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) currently dominates this space with nearly $69 billion in assets under management.
Trump’s Controversial Crypto Connections
The ETF adds to Trump’s already controversial crypto affiliations.
Critics argue these ties create conflicts of interest with his presidential responsibilities.
Accusations have surfaced that Trump has profited from his presidency through various crypto ventures.
Trump and his family have links to a growing portfolio of crypto projects.
These include multiple non-fungible token (NFT) collections, two memecoins, a stablecoin, a crypto mining company, and a crypto platform with its own token.
Background on Trump Media’s Crypto Strategy
This ETF filing follows an April agreement between Trump Media, Yorkville America Digital, and Crypto.com.
The partnership aims to launch a series of “Made in America” crypto ETFs.
The June 3 filing for the Truth Social Bitcoin ETF begins the SEC’s review process.
The SEC has 45 days to decide whether to accept, reject, or delay the application.
It can extend the review period multiple times, up to a maximum of 240 days.
The SEC’s final decision is due by January 29, 2026, at the latest.
Yorkville must also submit an S-1 registration statement to the SEC.
This document outlines the fund’s offerings, operational plans, use of investor proceeds, and associated risks.
Additional Crypto-Related Filings by Trump Media
In February, Trump Media filed for another ETF called the “Truth.Fi Bitcoin Plus ETF.”
This fund could receive part of the $250 million allocated to Truth Media’s fintech platform, Truth.Fi.
Plans to Integrate Crypto Into Truth+ Streaming Service
Trump Media is exploring further crypto integration beyond ETFs.
The company’s CEO, Devin Nunes, revealed plans to introduce a utility token within a Truth digital wallet.
This token would initially be used to pay for subscriptions to Truth+, Trump Media’s video streaming site.
Later, the token could be used for other products and services within the “Truth ecosphere.”
Early Signals of Crypto Payment Ambitions
Trump Media first hinted at crypto payment plans in November.
The company filed a trademark application to develop a digital asset wallet and enable crypto payments on Truth.Fi.
This strategy aligns with Trump Media’s broader goal of blending social media, fintech, and crypto into a unified ecosystem.
