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US President Donald Trump’s sprawling crypto empire could turn adjacent larger, arsenic filings amusement plans for a Bitcoin exchange-traded money (ETF) branded with his societal media platform, Truth Social.
Stock speech NYSE Arca filed for the Truth Social Bitcoin ETF with the Securities and Exchange Commission connected June 3 connected behalf of crypto plus manager Yorkville America Digital, a spouse of Truth Social’s owner, Trump Media & Technology Group.
Trump is the bulk proprietor of Trump Media, but moved his shares into a spot controlled by his son, Donald Trump Jr., earlier helium re-entered the White House.
The ETF seeks to database connected the NYSE Arca speech and way the terms of Bitcoin (BTC). The filing did not disclose a absorption interest oregon ticker but listed Foris DAX Trust Company, the custodian of Crypto.com’s assets, arsenic the projected custodian.
Source: Eric BalchunasIf approved, the Trump-linked ETF enters a crowded Bitcoin ETF marketplace of 11 akin funds dominated by BlackRock’s iShares Bitcoin Trust ETF (IBIT) with astir $69 cardinal successful assets nether management.
It could besides adhd to Trump’s arguable ties to crypto, which critics say are a struggle of involvement with his statesmanlike duties and person accused Trump of profiting from the presidency.
Trump and his household person ties to an progressively increasing fig of crypto projects, which see aggregate non-fungible token (NFT) collections, 2 memecoins, a stablecoin, a crypto mining institution and a crypto level with an associated token.
The ETF filing comes aft Trump Media signed an agreement successful April with Yorkville America Digital and Crypto.com to motorboat a bid of “Made successful America” crypto ETFs.
The 19b-4 filing of the Truth Social Bitcoin ETF efficaciously initiates the SEC’s reappraisal process, and it indispensable determine whether to accept, cull oregon hold the exertion wrong 45 days. It tin hold its determination aggregate times, for a maximum reappraisal play of 240 days.
Related: Donald Trump gives conflicting answers implicit memecoin profits
The SEC indispensable determine connected the exertion by Jan. 29, 2026, astatine the latest.
Yorkville volition besides request to record an S-1 registration connection for the ETF, which informs the SEC what the money plans to offer, however it volition operate, however it intends to usage immoderate proceeds raised from investors and associated risks.
Trump Media besides filed for a “Truth.Fi Bitcoin Plus ETF” successful February, which could person a information of the $250 cardinal allocated to its fintech platform, Truth.Fi.
Trump Media wants to integrate crypto successful video streaming site
Trump Media is besides looking to integrate a crypto token and wallet into its video streaming site, Truth+, the company’s CEO, Devin Nunes, told shareholders connected April 29.
“We’re exploring the instauration of a inferior token wrong a Truth integer wallet that tin initially beryllium utilized to wage for Truth+ subscription costs, and aboriginal beryllium applied to different products and services successful the Truth ecosphere.”
Trump Media archetypal signaled plans for a imaginable crypto payments task past November erstwhile it filed a trademark application with the US Patent and Trademark Office to physique a integer plus wallet and let crypto payments to beryllium processed connected Truth.Fi.
Magazine: Trump’s crypto ventures rise struggle of interest, insider trading questions
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