Truth Social files for Bitcoin ETF, marking Trump Media’s latest crypto expansion

A division of the New York Stock Exchange has filed for an exchange-traded fund from President Donald Trump's right-leaning social media platform, Truth Social.

A Form 19b-4 was filed on Tuesday by NYSE Arca for the Truth Social Bitcoin ETF, which it says looks to track the price of bitcoin. The form is one part of the process to get potential sign-off from the Securities and Exchange Commission to begin listing and trading.

"According to the Registration Statement, the Trust seeks to reflect generally the performance of the price of bitcoin," the filing read. "The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities."

The sponsor of the trust is Yorkville America Digital, LLC, and the custodian is Foris DAX Trust Company, LLC, according to the filing. The sponsor was described in a press release previously as an "America-first asset management firm."

Nasdaq-listed Trump Media and Technology Group is the operator of Truth Social and Truth.Fi. The latter was created in January and approved to invest up to $250 million of its over $700 million in cash reserves into traditional investment vehicles, SMAs, ETFs, bitcoin, and "similar cryptocurrencies or crypto-related securities."

More recently, Trump Media established a corporate bitcoin treasury with a $2.5 billion offering.

Multiple firms have been vying for spot crypto ETFs for assets from SOL to XRP to DOGE, but Tuesday's filing is unique given its ties to the president. The SEC has so far taken a friendlier approach to regulating the crypto industry in part through dropping lawsuits and investigations, and its new chair Paul Atkins has said it is a "new day" at the agency.