Trump Media & Technology Group (TMTG) is moving forward with plans to launch a Bitcoin ETF called the Truth Social Bitcoin ETF, according to a June 3 SEC filing.
NYSE Group Inc. filed regulatory paperwork to list the product, using the name of President Donald Trump’s social network.
The ETF is being developed through a partnership with Yorkville Advisors, a New Jersey-based company that Trump Media describes as an “America-First asset management firm.”
It’s really happening. Trump’s company is launching a Bitcoin ETF https://t.co/BQdj9jS98n
— James Seyffart (@JSeyff) June 3, 2025
Another Spot Bitcoin ETF
Foris DAX Trust Company will be the custodian of the digital assets, according to the filing, which did not mention the ticker or fees for the new fund. Trump Media had previously applied for trademarks related to Bitcoin investment products that align with the president’s policy priorities.
The spot Bitcoin ETF would join more than 60 US funds tied to BTC, though this would buy the asset and track its price like the eleven already approved and trading ETFs.
Bloomberg Intelligence senior ETF analyst Eric Balchunas said, “On one hand, this is pretty uncharted territory and a huge endorsement of Bitcoin from Trump’s company,” before adding:
“But on the other hand, it’s a routine filing in a very crowded category, and it will have its work cut out to attract flows and liquidity.”
Critics have raised concerns about potential conflicts of interest, given Trump’s dual role in setting cryptocurrency policy while potentially benefiting financially from related businesses.
However, the White House has stated that Trump is separated from businesses bearing his name, and he has transferred his Trump Media shares to a trust controlled by his son.
Bitcoin Funds Surging
American spot Bitcoin ETFs have been wildly successful since their launch 18 months ago and have seen a cumulative $44.4 billion in net inflows so far.
Balchunas highlighted that industry-leading BlackRock’s IBIT ETF is the youngest by a long way to enter the top 25 funds. “It’s like an infant hanging out with teenagers and twenty-somethings,” he said.
Here’s a table of the Top 25 biggest ETFs and their age. At 1.4 yrs old $IBIT is youngest on list by NINE times. It’s like an infant hanging out with teenagers and twenty-somethings. Quite poss the most insane IBIT stat yet (and there are many) via @SirYappityyapp pic.twitter.com/w63XSkD7f6
— Eric Balchunas (@EricBalchunas) June 3, 2025
The analyst also predicted that the BlackRock fund is likely to surpass Satoshi Nakamoto as the world’s biggest Bitcoin holder by the end of next year. This is a “testament to the power of convenience, low cost, liquidity, and trust that the ETF brings to the table,” he said.
The eleven spot ETFs in the US were on course to reverse a three-day outflow streak with an inflow of $375 million on June 3, according to preliminary data.
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