Trump’s Truth Social Files for Spot Bitcoin ETF

Donald Trump’s Truth Social platform has filed for a Bitcoin ETF with the SEC on June 3, 2025, aiming to enter the cryptocurrency market.

The filing could broaden Truth Social’s influence in crypto, with implications for market dynamics and investor interest.

Trump Media and Technology Group, owner of Truth Social, filed the ETF on June 3 with NYSE Arca as part of its crypto expansion. Yorkville America Digital, LLC sponsors the trust, with Foris DAX Trust Company, LLC as the custodian, aligning with the group’s crypto-oriented strategy. Partnerships with Crypto.com and substantial cash reserves illustrate Trump’s commitment to diversifying through cryptocurrencies.

The new ETF seeks to mirror Bitcoin’s price performance. Bitcoin markets could experience increased volatility as investors anticipate regulatory approval. Trump Media has previously expressed interest in crypto financial services through various filings. Nate Geraci from the ETF Store notes the sector’s compelling nature, stating,

“There is no more interesting place in asset management right now than the intersection between ETFs and crypto.”

With ambitions to become a prominent player in ETFs, Trump Media’s moves could provoke responses from traditional asset managers. The company’s strategic positioning indicates a potential shift in its financial services offerings. Historical precedents of these filings reveal a broader corporate pivot towards embracing crypto products.

As securities regulations progress, expected scrutiny from the SEC will influence the ETF’s journey to market. The implications of a Truth Social Bitcoin ETF could spark changes in how political entities engage with digital assets. Eric Balchunas, a Bloomberg analyst, predicts the ETF could face asset gathering challenges, noting that

“Despite Trump’s ties to the company, their Bitcoin ETF will likely be ‘microscopic’ in asset gathering compared to established ETFs from major asset managers.”