[New York, NY] – Trump Media to Launch Direct Bitcoin ETF

Industry Giant Partners for High-Profile Bitcoin ETF

President Donald Trump’s media entity, Trump Media & Technology Group (TMTG), is pursuing its most ambitious cryptocurrency project to date by filing for a direct Bitcoin exchange-traded fund (ETF) called the Truth Social Bitcoin ETF. TMTG announced a partnership with Crypto.com and Yorkville America Digital.

NYSE Arca Filing Submitted

The application was submitted via a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) on June 3 through NYSE Arca (stylized as NYSEA), triggering the final regulatory approval process for the creation and trading of a new ETF.

SEC Approval Required

This SEC filing represents the conclusive government step before new shares can be issued. Prompted by the filing, the SEC has 45 days, potentially extended, to approve, reject, or postpone the application. A definitive ruling is expected by January 29, 2026.

Concurrently, Yorkville America Digital must lodge a formal prospectus via an S-1 registration statement, detailing the ETF’s structure, offerings, fund utilization, and associated risks.

If approved, the Truth Social Bitcoin ETF (TSBTC) will trade on NYSE Arca. The fund will mirror the performance of Bitcoin, offering investors exposure primarily to Bitcoin volatility, managed through shares backing the underlying asset, without holding the cryptocurrency directly.

“Designed to remove the obstacles represented by the complexities and operational burdens involved in a direct investment in bitcoin,” states the filing, prominently naming Yorkville America Digital as the proposed custodian for disbursements.

Part of a Broader Digital Asset Strategy

This effort is an integral part of TMTG’s larger vision, alongside the Truth.Fi fintech platform aiming to cover digital assets and energy sectors. The company has further solidified its investment with plans to trademark six financial products and recent plans for a $2.5 billion Bitcoin treasury fund, backed by $2.4 billion in financing raised in early May.

Context: A Crowded Digital Asset ETF Market

Since January 2024, Bitcoin ETFs have drawn record inflows, surpassing $130 billion managed assets. Market leaders currently include Grayscale Bitcoin Trust (GBTC), iShares Bitcoin Trust (IBIT), and Fidelity’s FBTC, with BlackRock (holding IBIT) managing $69 billion via its exchange-traded products.

Nor is this TMTG’s maiden voyage in cryptocurrency: The White House, or rather, the former president, already owns a portfolio of assets including an NFT collection, a stake in Dogecoin, a cryptocurrency mining company, and previously proposed digital asset banking.

High Visibility & Political Overlap Concerns

The anticipated high profile— blending a major presidential brand with the owner filing (via a trust held by his eldest son)— sparks inevitable debate, including scrutiny over potential entanglement between executive branch influence and secure investment markets.

Despite the media attention, the legal process demands certainty over controversy. The TSFinancial approach, while subject to change based on SEC feedback regarding Bitcoin classification, structure, and operational details, marks another entry into a dynamic sector.

The fund’s approval window closing in nearly seven months may allow the SEC to weigh American dominance in BTC products against administration statements advocating financial caution.