$BTC Trump Media and Technology Group (TMTG), the company that owns President Donald Trump's Truth Social platform and is partially owned by the president, received approval from the U.S. Securities and Exchange Commission (SEC) for its registration statement related to its treasury agreement in Bitcoin for $2.3 billion.

According to a document filed with the SEC on June 13, the agency declared TMTG's S-3 registration statement, filed on June 6, effective for the purchase and sale of Bitcoin (BTC). The S-3 is a form that U.S. companies use to register the sale of various securities, such as stocks, options, and different types of debt. TMTG submitted the corresponding final prospectus to the SEC on the same day.