Trump Media & Technology Group (TMTG) is advancing plans to launch a Bitcoin ETF named the Truth Social Bitcoin ETF, as revealed in a June 3 SEC filing.
The regulatory paperwork was submitted by NYSE Group Inc., listing the product under the brand of President Donald Trump’s social media platform, Truth Social.
This ETF is being developed in partnership with Yorkville Advisors, a New Jersey-based “America-First asset management firm,” according to Trump Media.
Another Spot Bitcoin ETF Enters the Market
The Foris DAX Trust Company will act as the custodian for the digital assets backing the fund. The filing did not disclose the ticker symbol or fee structure for the ETF. Trump Media has previously filed trademarks for Bitcoin investment products aligned with the former president’s policy priorities.
If approved, the Truth Social Bitcoin ETF would join over 60 US Bitcoin-related funds, including eleven spot Bitcoin ETFs that directly buy and track the asset’s price.
Bloomberg Intelligence’s senior ETF analyst Eric Balchunas commented, “This filing marks a significant endorsement of Bitcoin from Trump’s company, though it enters a crowded and competitive market. The fund will need to work hard to attract investor flows and liquidity.”
Controversies and Market Context
Critics have voiced concerns about potential conflicts of interest, given Trump’s historical influence over cryptocurrency policy while having financial stakes in related ventures. The White House, however, clarified that Trump is separated from his businesses, having transferred his Trump Media shares to a trust controlled by his son.
Bitcoin ETFs Seeing Strong Growth
Since their debut 18 months ago, American spot Bitcoin ETFs have enjoyed massive success, accumulating $44.4 billion in net inflows. Balchunas noted BlackRock’s IBIT ETF as a rapidly rising fund, expected to become one of the largest Bitcoin holders globally by next year. He highlighted the ETF’s appeal due to convenience, low cost, liquidity, and investor trust.
On June 3, the eleven US spot Bitcoin ETFs were poised to end a three-day outflow streak with $375 million in inflows, according to preliminary data.
