The already burgeoning market for spot Bitcoin Exchange Traded Funds (ETFs) could see a politically charged addition, as NYSE Arca has formally submitted a filing to the Securities and Exchange Commission (SEC) for a proposed Truth Social Bitcoin ETF. The filing, made on June 3, was on behalf of Yorkville America Digital, the asset manager behind the proposed fund and a partner of Trump Media & Technology Group (TMTG), the parent company of Truth Social and fintech platform Truth.Fi.
The proposed ETF aims to track the price of Bitcoin and, if approved, would trade on NYSE Arca. While the initial filing did not disclose a ticker symbol or management fee, it did name Foris DAX Trust Company, Crypto.com’s asset custodian, as the intended custodian for the ETF.
The SEC now has a 45-day window to issue a decision on the filing or delay it. Under current regulations, the agency has the authority to extend the decision timeline up to 240 days, with the latest possible final verdict date set for January 29, 2026. Prior to approval, Yorkville America Digital will also need to submit an S-1 registration statement, which will provide comprehensive details on the ETF’s structure, potential risk factors, and how the proceeds will be utilized.
This potential new offering enters an already competitive market, joining 11 other approved spot Bitcoin ETFs, including BlackRock’s IBIT, which currently manages nearly $69 billion in assets. However, a product affiliated with the Trump brand could potentially attract a distinct, politically motivated investor base, and may also ignite further discussions regarding potential conflicts of interest.
According to the filing, “The Trust seeks to reflect the performance of the price of bitcoin, before payment of the Trust’s expenses and liabilities.”
This ETF represents a further expansion of TMTG’s ambitions in the cryptocurrency space. In April, the company announced a partnership with Crypto.com and Yorkville specifically to develop “Made in America” crypto ETFs, committing up to $250 million from its reserves to fund these ventures. Last week, TMTG also successfully raised $2.4 billion with the intention of building a Bitcoin treasury.
