The New York Stock Exchange’s electronic trading division, NYSE Arca, filed with the Securities and Exchange Commission (SEC) on Tuesday to list the “Truth Social Bitcoin ETF.” The registration relates to a spot bitcoin exchange-traded fund supported by Trump Media & Technology Group (TMTG), the parent company of Trump’s Truth Social platform.
The Truth Social Bitcoin ETF, if allowed, will enable regular investors to profit from changes in the price of bitcoin without having to purchase, hold, or safeguard the cryptocurrency directly. The fund, managed in partnership with Yorkville America Digital (an “America-first” asset manager), will hold bitcoin in custody with Foris DAX Trust Company, a well-established crypto custodian also associated with Crypto.com.
Politically Driven Fund
The filing marks the first time a U.S. president’s media company has directly sought to launch a Bitcoin ETF, injecting a distinctly political dimension into the already competitive $130 billion spot Bitcoin ETF market. Trump, the majority owner of TMTG, has become increasingly vocal in his support for digital assets, reversing his earlier skepticism and aligning his brand with the crypto boom.
The ETF application follows a series of headline-grabbing crypto initiatives from Trump Media, including a $2.5 billion bitcoin treasury announcement and the launch of the Truth.Fi fintech brand, and a partnership with Crypto.com to develop a suite of digital asset products. Trump’s eldest son, Donald Trump Jr., recently declared the family was “seriously long” on bitcoin, further underscoring the former president’s personal and financial stake in the sector.
How the Truth Social ETF Will Work
The spot Bitcoin ETF aims to track the price of bitcoin, mirroring the structure of other spot bitcoin ETFs that have proliferated since the SEC’s first approvals in January 2024. The fund will be available to both U.S. and international investors through major brokerage platforms and the Crypto.com app, which boasts over 140 million users worldwide.
According to the filing, the ETF’s shares are intended to “constitute a simpler means of investing similar to an investment in Bitcoin rather than by acquiring, holding and trading Bitcoin directly”. The SEC will now review the application, with a maximum decision window of 240 days, placing a final ruling deadline in early 2026.
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