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Truth Social’s parent company has officially entered the competitive world of cryptocurrency investment products by filing for a spot Bitcoin exchange-traded fund (ETF). This move positions the company among major players in the rapidly growing crypto investment space.

Details of the Filing

On June 3, a filing with the Securities and Exchange Commission (SEC) revealed that NYSE Arca submitted a Form 19b-4 on behalf of Yorkville America Digital, the asset manager behind the proposed Bitcoin ETF. Yorkville is a partner of Trump Media & Technology Group (TMTG), the operator of Truth Social and fintech platform Truth.Fi.

The ETF aims to track the price of Bitcoin and be listed on NYSE Arca. While the filing did not disclose a ticker symbol or management fee, it named Foris DAX Trust Company, associated with Crypto.com, as the proposed custodian for the ETF.

SEC Review Timeline

The SEC now has 45 days to review the filing and issue a decision or delay it. Under current regulations, the agency can take up to 240 days to render a final verdict, with the deadline potentially extending to January 29, 2026. Additionally, Yorkville must submit an S-1 registration, which will outline the ETF’s structure, associated risks, and intended use of proceeds.

Trump Affiliation and Political Implications

While former President Donald Trump is the majority owner of TMTG, his shares are held in a trust managed by his son, Donald Trump Jr., due to Trump’s return to political life. Interestingly, the ETF documentation does not reference Trump by name, though the association with his media group could attract attention from politically motivated investors.

This ETF would join an already crowded market of 11 approved spot Bitcoin ETFs, including BlackRock’s IBIT, which currently holds nearly $69 billion in assets. Despite the competition, the potential for a Trump-affiliated ETF to attract a dedicated investor base remains significant, though it also raises questions about potential conflicts of interest.

“The Trust seeks to reflect the performance of the price of bitcoin before payment of the Trust’s expenses and liabilities,” the filing states.

Expanding Crypto Ambitions

TMTG’s crypto involvement extends beyond the proposed Bitcoin ETF. In April, the company announced a partnership with Crypto.com and Yorkville to develop other “Made in America” crypto ETFs. TMTG has pledged up to $250 million from its reserves to fund these ventures and continues to push forward in the fintech space.

Last week, the company raised $2.4 billion to establish a Bitcoin treasury, further solidifying its commitment to cryptocurrency. Additionally, TMTG filed for a trademark in February for the “Truth.Fi Bitcoin Plus ETF,” signaling its broader ambitions in the crypto and fintech sectors.

Criticism and Market Impact

Despite the exciting developments, critics argue that Trump’s association with the crypto space blurs the line between business and politics. However, supporters view the ETF as a step forward in bringing cryptocurrency closer to mainstream adoption, particularly with the political backing it carries.

The introduction of a Trump-affiliated Bitcoin ETF could appeal to a niche audience while contributing to the ongoing growth of cryptocurrency investment products in the financial market.

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