TL;DR
Truth Social, the social media platform linked to Donald Trump, has formally filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to launch a spot bitcoin ETF.
The fund, named the “Truth Social Bitcoin ETF”, would be custodied by Foris DAX Trust Company and sponsored by Yorkville America Digital.
If approved, it would join the growing list of spot bitcoin ETFs already trading in the U.S., such as those issued by BlackRock and Fidelity.
Truth Social, the Trump-backed social network, has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) seeking approval for the creation of its own spot bitcoin ETF. The proposed fund aims to provide direct exposure to bitcoin through a regulated investment vehicle that will be listed on NYSE Arca, a subsidiary of the New York Stock Exchange. With this move, Trump Media and Technology Group (DJT) positions itself within the crypto-linked financial sector, already populated by major players such as BlackRock and Fidelity since early 2024.
The sponsoring company, Yorkville America Digital, had already submitted the 19b-4 form, which initiates a regulatory countdown for the SEC to issue a final decision. If the fund is approved, it will be officially known as the “Truth Social Bitcoin ETF”, and its bitcoin holdings will be custodied by Foris DAX Trust Company, a custodian also known for safeguarding the assets of Crypto.com.
What sets this ETF apart is that it would be one of the few crypto-related financial products launched from a company closely associated with President Donald Trump. This connection adds a distinct political dimension to a market that has traditionally been dominated by more conventional institutional players.
The Growth of the Bitcoin ETF Ecosystem in the United States
Truth Social’s entrance into the bitcoin ETF arena doesn’t happen in a vacuum. As of now, there are 11 such funds approved for trading in the United States. Among them, BlackRock’s iShares Bitcoin Trust has already amassed nearly $70 billion in assets since its launch. Other major issuers such as Fidelity, Grayscale, and Franklin Templeton have also seen growing adoption of their crypto-linked products within mainstream financial markets.
For bitcoin advocates, these ETFs are considered key gateways for institutional investors and the broader public who seek regulated exposure to digital assets without having to custody them directly. The backing of public figures like Donald Trump, regardless of political controversy, could accelerate mainstream acceptance of crypto-based financial products across broader segments of the American population.
Although the SEC has not yet given formal approval to the Truth Social Bitcoin ETF, the combination of financial ambition, political branding, and strategic positioning demonstrates that cryptocurrencies continue to advance toward deeper integration within the traditional financial system.
