President Donald Trump's media company, Trump Media & Technology Group (TMTG), has taken a significant step into the cryptocurrency arena. On June 3, 2025, NYSE Arca, a division of the New York Stock Exchange, filed a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list the "Truth Social Bitcoin ETF."
What Is the Truth Social Bitcoin ETF?
The proposed ETF aims to track the price of Bitcoin, offering investors exposure to the cryptocurrency without the complexities of direct ownership. If approved, it would be listed on NYSE Arca. The fund is backed by Yorkville America Digital in partnership with TMTG, with Foris DAX Trust Company designated as the custodian.
A Broader Crypto Strategy
This ETF filing is part of TMTG's expansive push into the crypto sector. Earlier in 2025, the company filed trademarks for several investment products under the "Truth.Fi" brand, including the Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF, and Truth.Fi U.S. Energy Independence ETF.
In addition to these filings, TMTG announced plans to raise approximately $2.5 billion to establish a "bitcoin treasury," signaling a strong commitment to integrating cryptocurrency into its financial strategy.
Political and Ethical Considerations
President Trump's administration has shown increasing support for cryptocurrency, with initiatives such as appointing a "crypto czar" and promoting deregulation of crypto markets. However, these moves have drawn criticism over potential conflicts of interest, given the Trump family's personal investments in crypto-related ventures.
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