Former U.S. President Donald Trump's vast cryptocurrency empire may further expand, as documents reveal plans to launch a Bitcoin exchange-traded fund (ETF) named after his social media platform, Truth Social.
On June 3, the New York Stock Exchange (NYSE Arca) submitted an application for the Truth Social Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC) on behalf of the crypto asset management company Yorkville America Digital. Yorkville is a partner of Trump Media & Technology Group, the owner of Truth Social.
Trump is the majority shareholder of Trump Media but transferred his shares to a trust controlled by his son, Donald Trump Jr., before returning to the White House.
The ETF seeks to list on the NYSE Arca and track the price of Bitcoin (BTC). The documents did not disclose management fees or trading codes but listed Foris DAX Trust Company (the custodian of Crypto.com assets) as the proposed custodian.
If approved, this Trump-related ETF would enter a competitive Bitcoin ETF market, which currently has 11 similar funds, with BlackRock's iShares Bitcoin Trust ETF (IBIT) dominating, managing nearly $69 billion in assets.
This could also intensify Trump's controversial ties to cryptocurrency, with critics arguing that it presents a conflict of interest with his presidential duties and accusing Trump of profiting from his position.
Trump and his family are connected to an increasing number of crypto projects, including several non-fungible token (NFT) collections, two meme coins, a stablecoin, a crypto mining company, and a crypto platform with related tokens.
The ETF application was submitted after Trump Media signed an agreement with Yorkville America Digital and Crypto.com in April, planning to launch a series of "Made in America" crypto ETFs.
The 19b-4 filing for the Truth Social Bitcoin ETF officially initiated the SEC's review process, which must decide within 45 days whether to accept, reject, or delay the application. Review decisions can be postponed multiple times, with a maximum review period of 240 days.
The SEC must make a decision on the application by January 29, 2026, at the latest.
Yorkville also needs to submit an S-1 registration statement for the ETF, explaining to the SEC what the fund plans to offer, how it will operate, how it will use funds raised from investors, and the associated risks.
Trump Media also applied for the "Truth.Fi Bitcoin Plus ETF" in February, which may receive a portion of the $250 million allocated to its fintech platform, Truth.Fi.
Additionally, Trump Media plans to integrate crypto tokens and wallets into its streaming video site, Truth+. The company's CEO, Devin Nunes, stated to shareholders on April 29:
"We are exploring the introduction of a utility token in the Truth digital wallet, initially for paying Truth+ subscription fees, and later for use in other products and services within the Truth ecosystem."
Trump Media first expressed its intention to engage in potential crypto payment services last November when it filed a trademark application with the U.S. Patent and Trademark Office, planning to build a digital asset wallet and allow crypto payments to be processed on Truth.Fi.
Related: The SEC has faced criticism for its shift in cryptocurrency staking policy.
Original: “Trump-Linked Asset Management Company Files for Truth Social Bitcoin (BTC) ETF with SEC”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
