Trump Media Pushes Into Crypto with Truth Social Bitcoin ETF Filing

Highlights:

• Trump Media teams up with Yorkville and Crypto.com to launch a Bitcoin ETF through NYSE Arca.
• SEC will begin review of the Truth Social Bitcoin ETF with a final decision deadline of the start of next year.
• Trump Media has expanded its crypto plans with Truth.Fi and a utility token for Truth+ subscriptions.

Trump Media and Technology Group has taken its first major step into digital assets. On June 3, NYSE Arca submitted a rule-change request to the Securities and Exchange Commission to list the Truth Social Bitcoin ETF. The fund is a product of an April partnership between Trump Media, Yorkville America Digital, and Crypto.com. If approved, the ETF will give investors access to Bitcoin through shares listed on the stock exchange.

Trump’s company just filed for a Truth Social Bitcoin ETF, which will track spot bitcoin and list on NYSE. pic.twitter.com/I3ejMbhyl1

— Eric Balchunas (@EricBalchunas) June 3, 2025

The filing does not mention a ticker or management fee. However, it names Foris DAX Trust Company as the custodian. That firm is responsible for overseeing Crypto.com’s digital assets. This ETF would enter a crowded space, as the SEC approved 11 spot Bitcoin funds earlier this year.

The SEC will now begin its review of the filing. It must decide within 45 days whether to approve, reject, or delay the application. The agency may decide to extend the review time frame for up to 240 days. As a result, the deadline for reaching a decision will be January 29. In addition to filing 19b-4, Yorkville also has to file an S-1 registration. The document will state how the fund intends to function, provide details on how investor funds will be managed, and mention the possible risks.

Trump Media Expands Crypto Push With Truth.Fi and Bitcoin ETF Products

Trump Media has made it clear that crypto remains a major focus. In January, the firm introduced its financial services division, Truth.Fi. The company plans to invest up to $250 million from its own sources into a selection of crypto and energy-related ETFs. Yorkville America Digital and Crypto.com are the partners involved in this venture.

In February, Trump Media filed for another crypto-focused product named the Truth.Fi Bitcoin Plus ETF. This proposed fund may also benefit from the $250 million investment. Meanwhile, the company is working to build out its streaming service, Truth+, by integrating a digital wallet and utility token. CEO Devin Nunes told shareholders on April 29 that the token would initially cover subscription fees. Over time, users could also apply it to other services within the Truth ecosystem.

Trump Media’s partnership with Magic Eden helped develop the wallet. However, Trump’s sons have publicly denied involvement with this product. Back in November, the company submitted a trademark application for a digital asset wallet under Truth.Fi. That move signaled the beginning of its plans for crypto payment services.

Trump’s Crypto Projects Raise Business and Political Concerns

Trump Media has also entered several other areas of the crypto industry. It supports multiple NFT collections, two meme coins, a stablecoin, a mining company, and a crypto platform with a native token. One of the latest ventures includes a lending project called World Liberty Financial. This project launched as the presidential election campaign gained momentum.

Even though Trump turned over his shares to a trust managed by his son, Donald Trump Jr., some people are still concerned. They argue there could be conflicts between Trump’s role as a political figure and his growing crypto business. Despite this, Trump has received a lot of support from leaders in the crypto industry during the election period and after assuming office.