The parent company of Truth Social has filed for a spot Bitcoin exchange-traded fund, entering a competitive field for cryptocurrency investment products.
According to a filing submitted on June 3 to the U.S. Securities and Exchange Commission, the New York Stock Exchange (NYSE Arca) submitted Form 19b-4 on behalf of Yorkville America Digital, an asset management company behind the proposed Truth Social Bitcoin fund. Yorkville is a partner of the Trump Media & Technology Group, the company operating Truth Social and the financial technology platform Truth.Fi.
The exchange-traded fund (ETF) aims to track the price of Bitcoin and list it on the NYSE Arca. Although the filing did not disclose the trading symbol or management fees, it designated Foris DAX Trust, the custodian of Crypto.com assets, as the proposed custodian for the fund.
The U.S. Securities and Exchange Commission (SEC) now has 45 days to make a decision or postpone the filing. Under current rules, the agency can take up to 240 days to reach a final ruling, with the deadline for a decision being January 29, 2026. Yorkville must also file an S-1 registration statement detailing the ETF structure, risk factors, and use of proceeds.
Although former President Donald Trump is the largest owner of TMTG, his shares are held in a trust managed by his son, Donald Trump Jr., since his return to the political arena. Notably, the documents for the exchange-traded fund do not mention Trump's name.
This exchange-traded fund will join an already crowded market that includes 11 approved Bitcoin exchange-traded funds, led by BlackRock's IBIT fund, which has assets nearing $69 billion. However, a product associated with Trump may attract a politically motivated investor base or raise further questions about conflicts of interest.
The filing states that "the trust fund seeks to mirror the price performance of Bitcoin, before fees and expenses of the fund are paid and its obligations fulfilled."
TMTG's ambitions in cryptocurrency go beyond this fund. In April, the company signed a partnership with Crypto.com and Yorkville to develop "Made in America" cryptocurrency exchange-traded funds and committed to allocating up to $250 million of its reserves to finance these projects. Last week, TMTG raised $2.4 billion to build a Bitcoin investment fund.
Trump Media has also applied for the trademark "Truth.Fi Bitcoin Plus ETF" in February as part of its expansion into fintech and cryptocurrency. Critics argue that Trump's involvement in cryptocurrency blurs the line between business and politics. Nevertheless, this fund represents a new chapter in the mainstream push for cryptocurrency, backed by political weight.
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