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Trump-Backed Truth Social To Launch Its Bitcoin ETF
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Trump-Backed Truth Social To Launch Its Bitcoin ETF

The Truth Social Bitcoin ETF will be listed on NYSE Arca, and Foris DAX Trust Company has been named as its custodian.
Alex Lari
By: Alex Lari
Jun 05, 2025
3 min read
Trump-Backed Truth Social To Launch Its Bitcoin ETF

President Donald Trump’s media company, Trump Media & Technology Group (TMTG), is doubling down on its Bitcoin bet, partnering with Crypto.com and Yorkville America Digital to launch its own bitcoin exchange-traded fund (ETF), called the Truth Social Bitcoin ETF.

On June 3, a division of the New York Stock Exchange, NYSE Arca, filed a 19b-4 form with the Securities and Exchange Commission (SEC).

This is the final regulatory hurdle before an ETF can be launched. If approved, this new fund will allow everyday investors to buy shares tied to the price of bitcoin, without having to hold the asset themselves.

The Truth Social Bitcoin ETF will track the price of bitcoin and give investors a simple, regulated way to invest in the digital money.

It will be listed and traded on NYSE Arca, and Foris DAX Trust Company (the custodian for Crypto.com’s assets) has been named as the proposed custodian for this new fund.

According to the filings, the ETF is “designed to remove the obstacles represented by the complexities and operational burdens involved in a direct investment in bitcoin.”

This is part of a bigger plan by Trump Media to offer a full suite of digital-asset-based financial products.

The company has also applied to trademark six investment products and has plans for additional ETFs under its Truth.Fi fintech platform, which will focus on digital assets and energy sectors.

Trump Media also recently announced a $2.5 billion bitcoin treasury plan and raised $2.4 billion in stock and debt to support its bitcoin initiatives.

Related: Trump Media Will Raise $2.5 Billion to Build Bitcoin Treasury

Now that the 19b-4 has been filed, the SEC has 45 days to approve, reject or delay the application. This can be extended several times, but a final decision must be made by January 29, 2026.

In addition to the 19b-4, Yorkville America Digital must also file an S-1 registration statement. This will outline exactly how the ETF will work, what it offers to investors, how funds will be used, and the risks involved.

Since January 2024, bitcoin ETFs have been all the rage, with over $130 billion in assets. Big players like BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC dominate the space. BlackRock alone has $69 billion in assets through its bitcoin ETF.

Even though Trump’s ETF is entering a crowded field, its name will get attention. The Truth Social bitcoin ETF is expected to generate media buzz, political controversy and divided investor opinions, making it a cultural and financial statement.

Donald Trump is the majority owner of Trump Media, although his shares are in a trust controlled by his son, Donald Trump Jr. The ETF filing doesn’t mention Trump by name, but most people see it as a Trump product.

The President is getting more and more involved in the digital asset space. He has NFT collections, meme coins, a bitcoin mining company, a digital asset wallet, and now a potential bitcoin ETF.

But not everyone is happy. Some argue that a sitting president’s involvement in regulated financial products, especially one that could benefit from political influence, is unethical.

An SEC-approved digital asset product from Trump could blur the lines between politics, personal gain and digital assets.

Others, however, see this as a calculated move to boost Trump’s image and position him as a leader in the digital asset and tech space.

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