US President Donald Trump’s sprawling crypto empire could grow even larger, as filings show plans for a Bitcoin exchange-traded fund (ETF) branded with his social media platform, Truth Social.
Stock exchange NYSE Arca filed for the Truth Social Bitcoin ETF with the Securities and Exchange Commission on June 3 on behalf of crypto asset manager Yorkville America Digital, a partner of Truth Social’s owner, Trump Media & Technology Group.
Trump is the majority owner of Trump Media, but moved his shares into a trust controlled by his son, Donald Trump Jr., before he re-entered the White House.
The ETF seeks to list on the NYSE Arca exchange and track the price of Bitcoin (BTC). The filing did not disclose a management fee or ticker but listed Foris DAX Trust Company, the custodian of Crypto.com’s assets, as the proposed custodian.
If approved, the Trump-linked ETF enters a crowded Bitcoin ETF market of 11 similar funds dominated by BlackRock’s iShares Bitcoin Trust ETF (IBIT) with nearly $69 billion in assets under management.
It could also add to Trump’s controversial ties to crypto, which critics say are a conflict of interest with his presidential duties and have accused Trump of profiting from the presidency.
Trump and his family have ties to an increasingly growing number of crypto projects, which include multiple non-fungible token (NFT) collections, two memecoins, a stablecoin, a crypto mining company and a crypto platform with an associated token.
The ETF filing comes after Trump Media signed an agreement in April with Yorkville America Digital and Crypto.com to launch a series of “Made in America” crypto ETFs.
The 19b-4 filing of the Truth Social Bitcoin ETF effectively initiates the SEC’s review process, and it must decide whether to accept, reject or delay the application within 45 days. It can delay its decision multiple times, for a maximum review period of 240 days.
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The SEC must decide on the application by Jan. 29, 2026, at the latest.
Yorkville will also need to file an S-1 registration statement for the ETF, which informs the SEC what the fund plans to offer, how it will operate, how it intends to use any proceeds raised from investors and associated risks.
Trump Media also filed for a “Truth.Fi Bitcoin Plus ETF” in February, which could receive a portion of the $250 million allocated to its fintech platform, Truth.Fi.
Trump Media wants to integrate crypto in video streaming site
Trump Media is also looking to integrate a crypto token and wallet into its video streaming site, Truth+, the company’s CEO, Devin Nunes, told shareholders on April 29.
“We’re exploring the introduction of a utility token within a Truth digital wallet that can initially be used to pay for Truth+ subscription costs, and later be applied to other products and services in the Truth ecosphere.”
Trump Media first signaled plans for a potential crypto payments venture last November when it filed a trademark application with the US Patent and Trademark Office to build a digital asset wallet and allow crypto payments to be processed on Truth.Fi.
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
