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Trump Media Eyes Bitcoin ETF Launch Under 'Truth Social' Banner
Trump Media & Technology Group (TMTG) has filed to launch the “Truth Social Bitcoin ETF,” seeking to capitalize on crypto enthusiasm as Bitcoin tops $100K. With political ties, regulatory changes, and a crowded ETF market, can this bold move succeed?
The ₿itcoin⚡️ Libertarian 🇦🇷🇸🇻
June 13, 2025
Trump Media & Technology Group (TMTG), the company behind the conservative social platform Truth Social, has taken a major step into the financial markets with a new application to launch a Bitcoin Exchange-Traded Fund (ETF). Dubbed the "Truth Social Bitcoin ETF", this venture marks TMTG's most significant foray yet beyond social media, aiming to capitalize on the explosive growth and renewed enthusiasm for cryptocurrencies in the U.S.
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Filed With the SEC, Aiming for NYSE Listing
TMTG announced that it has filed the necessary documentation with the U.S. Securities and Exchange Commission (SEC) to create the ETF, which would hold Bitcoin directly—not just Bitcoin futures or derivative assets. If approved, the ETF will be managed by Yorkville America Digital, a Florida-based asset management firm that promotes itself as "America-first." Shares of the ETF would be listed on the NYSE Arca exchange.
Crypto Boom as Political Tailwind
This launch attempt comes at a highly favorable time for crypto bulls: Bitcoin recently crossed the $100,000 threshold, riding a wave of optimism about a crypto-friendly policy environment under the Trump administration. With key regulatory bodies like the SEC now run by pro-crypto advocates—notably Paul Atkins, who replaced the more skeptical leadership of the Biden era—the landscape has shifted markedly.
Trump himself, once a vocal critic of Bitcoin (calling it “a scam”), has reversed course dramatically. He now endorses digital assets, has promoted his own $TRUMP memecoin, and reportedly aims to make the U.S. the "crypto capital of the world."
Market Skepticism and Stock Fallout
Despite the ambitious plans, markets responded coolly. On the day of the ETF filing, TMTG shares (DJT) fell 8%, with the downturn accelerating after Trump publicly clashed with Elon Musk on social media. Some analysts interpret this as investor wariness toward the company's diversification into a saturated and volatile space.
The ETF joins a crowded market dominated by institutional heavyweights such as BlackRock (with its $69 billion Bitcoin ETF launched in January 2024), Fidelity, and Bitwise. As ETF expert Dave Nadig put it, “It’s extraordinarily unlikely that products like [Truth Social Bitcoin ETF] gain long-term assets.”
Funding and Future Plans
TMTG is backing up its ambitions with serious capital. In late May, the company announced a $2.5 billion capital raise, including $1.5 billion in new equity and $1 billion through convertible bonds. A significant portion of this funding will go toward establishing a "Bitcoin treasury", intended to support the ETF and potentially fund other crypto-related ventures.
The Trump Family’s Growing Crypto Involvement
The Trump family is increasingly vocal and involved in the crypto space. At a recent Bitcoin conference in Las Vegas, Eric Trump and Donald Trump Jr. championed digital currencies, arguing they are “cheaper,” “faster,” “safer,” and “more transparent” than fiat alternatives. Trump Jr., who sits on TMTG’s board, summed up the family’s stance: “We’re very long crypto. It’s a huge part of everything that we do right now.”
In parallel developments, a crypto company backed by the Trumps—World Liberty Financial—announced plans to release an official digital wallet. Trump Jr. clarified that while the family had “zero involvement” with a Trump-themed Bitcoin trading app circulating online, they are actively building their own financial technology products.
Regulatory Overhaul and Political Ramifications
Upon taking office, Trump wasted no time dismantling Biden-era regulations on digital assets. His administration swiftly revoked rules aimed at limiting crypto risks, while the SEC has already dropped several high-profile enforcement actions against crypto firms. The message is clear: the Trump administration intends to embrace cryptocurrency, both symbolically and practically.
This pro-crypto stance raises ethical questions. Critics argue that the Trump family’s direct financial interests in crypto—including the memecoin and now the ETF—could result in conflicts of interest, especially as Trump wields influence over financial regulators.
Conclusion
The proposed Truth Social Bitcoin ETF exemplifies the complex intersection of finance, technology, and politics in the Trump era. On one hand, it signals a bold embrace of digital innovation. On the other, it brings scrutiny over regulatory impartiality, market legitimacy, and the blurring of personal and public interests.
Whether the ETF gains regulatory approval or investor traction remains to be seen. But what’s clear is this: the Trump brand is now deeply intertwined with the future of American cryptocurrency policy—and potentially its markets.
FAQs
It’s a proposed exchange-traded fund filed by Trump Media & Technology Group (TMTG) with the U.S. SEC. The ETF would directly hold Bitcoin and trade under the Truth Social brand.
Who will manage the ETF?
The ETF is set to be managed by Yorkville America Digital, a Florida-based firm branding itself as an "America-first" asset management company.
Why is TMTG launching this ETF now?
The timing coincides with Bitcoin surpassing $100,000 and the Trump administration’s push for a crypto-friendly regulatory environment, aiming to position the U.S. as a global leader in digital assets.
Has Trump always supported Bitcoin and crypto?
No. Trump previously criticized Bitcoin, calling it “a scam.” However, he has since reversed his stance, promoting the $TRUMP memecoin and supporting other crypto initiatives through his media company and family interests.
Is the ETF approved?
Not yet. The SEC is still reviewing the application. Approval would be required before the fund can be launched and traded on NYSE Arca.
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