Trump-Backed Truth Social Files for Bitcoin ETF With SEC, What’s Next?

The U.S. President Donald Trump’s media empire has filed a Bitcoin ETF branded under his social media platform, Truth Social. The move, disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) on June 3, could mark another bold step in Trump Media & Technology Group’s growing crypto ambitions.

According to the SEC filing, NYSE Arca submitted the application on behalf of Yorkville America Digital — a crypto asset management firm that recently partnered with Trump Media. The proposed Bitcoin ETF aims to track the price of Bitcoin and list on the NYSE Arca exchange. 

While the filing left out key details such as a ticker symbol or management fees, it listed Foris DAX Trust Company — custodian of Crypto.com’s assets — as the custodian for the fund.

Truth Social Bitcoin ETF in a Crowded Market?

If approved, the Truth Social Bitcoin ETF would enter a competitive and saturated U.S. Bitcoin ETF market. Since the SEC gave its first approvals earlier this year, giants like BlackRock’s iShares Bitcoin Trust (IBIT) have dominated the space. IBIT alone manages close to $69 billion in assets.

While Trump is the majority stakeholder in Trump Media, his shares have reportedly been moved to a trust managed by his son, Donald Trump Jr., distancing the former president from direct financial control as he campaigns for re-election. 

However, critics argue that Trump’s growing involvement in crypto — including NFTs, meme coins, and now ETFs — raises significant conflict of interest concerns.

Truth Media Eyes Crypto Integration in Streaming Platform

This isn’t Trump Media’s first step toward building a crypto footprint. In April, the firm signed a partnership with Yorkville and Crypto.com to explore a range of “Made in America” crypto ETFs. The newly filed “Truth Social Bitcoin ETF” now kickstarts the SEC’s 19b-4 review process, with a final decision due by January 29, 2026.

Beyond ETFs, Trump Media is also pursuing deeper crypto integration across its platforms. CEO Devin Nunes recently told shareholders that the company is working on adding a utility token and digital wallet to its video streaming site, Truth+. 

The token could initially be used to pay for subscription services and later be expanded for broader use across the Truth ecosystem.