Truth Social's Bold Move into Bitcoin: ETF Filing Shakes Up Crypto Market

NYSE Arca Submits Form 19b-4 for Yorkville America Digital's Bitcoin ETF

Hold onto your hats, folks! Truth Social's parent company just threw their hat into the ring with a filing for a spot Bitcoin exchange-traded fund. This move puts them right in the middle of the wild world of crypto investment products.

In a bombshell June 3 filing with the SEC, the stock exchange NYSE Arca stepped up to the plate, submitting a Form 19b-4 on behalf of Yorkville America Digital. These guys are the brains behind the proposed Truth Social Bitcoin (BTC) ETF, and they're partners with Trump Media & Technology Group, the masterminds behind Truth Social and the fintech platform Truth.Fi. Talk about a power team!

This ETF is gunning to track the price of Bitcoin and make its debut on NYSE Arca. The filing kept the ticker and management fee under wraps, but it did spill the beans on Foris DAX Trust Company, Crypto.com's asset custodian, as the proposed custodian for the ETF. Sneaky, but exciting!

Now, the SEC has 45 days to make a decision or hit the delay button. Under current rules, they can take up to 240 days to reach a final verdict, with the latest decision deadline landing on Jan. 29, 2026. Yorkville's got to submit an S-1 registration too, spilling the tea on the ETF's structure, risk factors, and how they plan to use the proceeds. Buckle up, it's gonna be a wild ride!

Even though former President Donald Trump is the big cheese at TMTG, his shares are locked up in a trust run by his son, Donald Trump Jr., ever since Trump jumped back into the political arena. Interestingly, the ETF paperwork doesn't even mention Trump's name. What's up with that?

This ETF is ready to rumble with the big dogs in the already packed market of 11 approved spot Bitcoin ETFs, with BlackRock's IBIT leading the pack with nearly $69 billion in assets. But a Trump-affiliated product? That could attract a whole new crowd of politically motivated investors or raise some serious questions about conflicts of interest. It's a political and financial rollercoaster!

"The Trust seeks to reflect the performance of the price of bitcoin," the filing declares, "before payment of the Trust's expenses and liabilities." Straight to the point!

TMTG's not stopping at this ETF, oh no. In April, they joined forces with Crypto.com and Yorkville to create "Made in America" crypto ETFs, pledging up to $250 million from their reserves to fuel these ventures. And just last week, TMTG raised a jaw-dropping $2.4 billion to build a Bitcoin treasury. They're going all in on crypto!

Trump Media also threw their hat in the ring back in February, filing for the trademark "Truth.Fi Bitcoin Plus ETF" as part of their expanding fintech and crypto empire. Critics say Trump's crypto involvement is muddying the waters between business and politics. But this ETF? It's a game-changer, pushing crypto into the mainstream with some serious political muscle behind it. Get ready, the crypto world is about to get a whole lot more interesting!