A filing submitted to the New York Stock Exchange on Tuesday indicated that the platform "Truth Social," owned by President Donald Trump, is making progress towards launching its own exchange-traded fund for Bitcoin.

On Tuesday, NYSE Arca, the fully electronic arm of the New York Stock Exchange, submitted an application to list a Bitcoin exchange-traded fund backed by "Truth Social," which is part of Trump Media & Technology Group Corp (NASDAQ:DJT). Trump is the primary owner of the company.

NYSE Arca submitted a Form 19b-4 to seek regulatory approval for the listing of the exchange-traded fund and to allow it to be traded on the exchange.

The Bitcoin exchange-traded fund from "Truth Social" aims to directly track the price of the world's largest cryptocurrency, benefiting from the increasing popularity of instant cryptocurrency funds traded over the past year.

The filing comes after Trump Media and Crypto.com announced a partnership to develop several digital asset products together, including exchange-traded funds.

The market for instant Bitcoin exchange-traded funds in the United States has grown significantly since its approval in early 2024, with total inflows reaching $44.4 billion.

The Bitcoin exchange-traded fund from "Truth Social" represents another attempt by Trump to enter the cryptocurrency space - a field he has shown increasing support for over the past year.