Donald Trump's media company is delving even deeper into crypto. On June 3, 2025, NYSE Arca officially submitted to the U.S. Securities and Exchange Commission (SEC) an application to list the new Bitcoin-related exchange-traded fund (ETF) sponsored by Truth Social, which is the social media platform of the Trump Media & Technology Group (TMTG).
The filing was a form of 'Form 19b-4', the necessary letter to list an ETF on a stock exchange in the United States. If approved, the fund will allow investors to bet on the price of Bitcoin without owning the digital currency.
The ETF is a collaboration between Truth Social and Yorkville America Digital, an asset manager that self-identifies as 'America first'. Bitcoin holdings for the ETF will be held in custody by Foris DAX Trust Company, a crypto-affiliated firm.
Trump is not named in the filing. However, TMTG, the parent company of Truth Social, is also mostly owned by the president. It has a considerable financial and political footprint in this new crypto initiative.
The SEC has not yet assigned a ticker or outlined a fee structure. The regulatory agency also has up to 240 days to decide whether the ETFs should be approved.
Trump Media takes bold steps in the crypto market
This ETF filing is not just something in a vacuum. It is part of a broader foray into the world of digital assets by TMTG.
Trump Media introduced Truth earlier this year. Truth.Fi is a financial brand that offers investment tools with conservative values. One of its main goals is to 'support American energy and independence' with investment options like ETFs and digital assets.
In April 2025, Crypto.com partnered with TMTG.com. That agreement provided a framework for operating crypto-related products, such as custody services (Foris DAX) and support for wallet development.
The boldest came shortly after. TMTG revealed a $2.5 billion capital raise for a new Bitcoin treasury. The fund is designed to support the company's growing range of financial tools and serve as a store of value.
Through Truth.Fi, the company also hopes to launch a crypto wallet called 'Trump Coin Wallet' and is exploring how to enable users to invest directly in Bitcoin and other digital assets.
These moves speak to a strategic and financial commitment from Trump Media to be a significant player in the crypto space, an area of the president's life where he was previously skeptical.
Washington redefines crypto oversight
The SEC's stance on cryptocurrencies appears more welcoming than in previous years, given the new chairman Paul Atkins.
Recent developments have seen multiple enforcement actions against crypto companies, and there is a promise to continue collaborating with blockchain companies. Washington has become more friendly to crypto as digital assets gain traction among younger and more conservative voters.
For TMTG, the timing could be right. Several spot Bitcoin ETFs have been approved since early 2024. These include products from major players like BlackRock, Fidelity, and Grayscale.
However, the ETF backing Truth Social is notable for its direct political ties and the symbolism of a platform related to Trump becoming part of the financial system in this way.
This ETF could even evolve into a meeting point for conservative-minded investors looking to invest in aligned market alternatives if approved.
It could also give TMTG a new source of revenue while it seeks to diversify away from social media and entertainment.
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