Trump-owned Truth Social files for Bitcoin ETF originally appeared on TheStreet .
NYSE Arca has submitted a proposed rule change to the Securities and Exchange Commission (SEC) under Rule 8.201-E to list and trade the Truth Social Bitcoin exchange-traded fund (ETF), a filing on June 4 mentioned.
Truth Social is a social media platform owned by Trump Media & Technology Group, or TMTG (Nasdaq: DJT), the media and tech company majority-owned by President Donald Trump .
A spot Bitcoin ETF is a financial product that trades on traditional stock exchanges and seeks to track the spot price performance of BTC. It gives investors exposure to Bitcoin without the need for them to directly own the cryptocurrency.
Managed by Yorkville America Digital, LLC, Truth Social's Bitcoin ETF primarily holds Bitcoin custodied by Foris DAX Trust Company.
TMTG had finalized a deal with Crypto.com, a crypto trading platform, on Apr. 22 to launch crypto ETFs.
Bloomberg's senior ETF analyst Eric Balchunas noted how the name “Trump” isn't mentioned at all on the ETF or the documents, although everyone knows who owns Truth Social.
The DJT stock rose 0.96% in after hours to trade at $22.05.
It was in January 2024 that the SEC first approved spot Bitcoin ETFs. BlackRock (Nasdaq: BLK), Fidelity Investments, and Franklin Templeton (NYSE:BEN) are among the Wall Street giants that have been offering spot Bitcoin ETFs in the U.S.
In fact, BlackRock's 1.4-years-old iShares Bitcoin Trust ETF (IBIT) is the youngest among the biggest 25 ETFs, Balchunas recently highlighted .
On May 30, TMTG announced that it will use $2.32 billion in net proceeds from a recent offering to create a corporate Bitcoin treasury.
The Bitcoin ETF and treasury are not the only crypto ventures that Trump or his family backs. Meme coins , the World Liberty Financial crypto platform, and the USD1 stablecoin are among several such ventures, which have repeatedly raised concerns over alleged conflicts of interest.
As per Kraken , Bitcoin was quoted at $105,612.77 at press time.
Trump-owned Truth Social files for Bitcoin ETF first appeared on TheStreet on Jun 3, 2025
This story was originally reported by TheStreet on Jun 3, 2025, where it first appeared.