Trump’s Truth Social Files for Bitcoin ETF

TL;DR

• NYSE Arca has filed the Form 19b-4 for the Truth Social Bitcoin ETF.

• This filing is unique given Truth Social’s ties with President Donald Trump.

Truth Social Files for Bitcoin ETF

NYSE Arca, a division of the New York Stock Exchange, filed for an exchange-traded fund (ETF) from President Donald Trump's right-leaning social media platform, Truth Social.

The Truth Social Bitcoin ETF seeks to track the price of Bitcoin. If approved, investors would gain access to Bitcoin via the exchange-traded fund. The filing stated that,

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

According to NYSE Arca, Yorkville America Digital, LLC is the sponsor of the trust, while Foris DAX Trust Company, LLC serves as the custodian. 

Trump Media and Technology Group, a NASDAQ-listed company, is the operator of Truth Social and Truth.Fi. The company also recently launched a corporate bitcoin treasury with a $2.5 billion offering.

This latest development comes as several firms have applied to list spot crypto ETFs for altcoins such as Solana, XRP, Dogecoin, Litecoin, and BNB. However, this application is unique given President Trump’s ties with Truth Social.