Trump's social media platform Truth Social prepares to list a dual crypto exchange-traded fund (ETF) on the New York Stock Exchange
In a significant move, Truth Social, the social media network owned by President Donald Trump, has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for a dual-spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF). The SEC has postponed its decision on approving the Truth Social Bitcoin ETF until September 18, 2025 [1][3][5].
This development marks a new chapter in Truth Social's evolving strategy, aligning with its long-term goal to broaden its business beyond existing media activities [1]. Foris DAX Trust Company, operating as Crypto.com, will serve as the custodian for the trust and the exclusive cryptocurrency custody provider for Truth Social's upcoming ETF [2].
The fund, sponsored by Yorkville America Digital, an asset management firm based in Florida, is planned for public listing, though the exact ticker symbol has not been disclosed or officially announced [4]. The ETF shares, backed by Bitcoin and Ethereum, are planned for listing on the New York Stock Exchange Arca (NYSE Arca) [6].
The ETF application was submitted in June 2025 by Trump Media & Technology Group, which operates Truth Social [1][3]. The fund is proposed as a crypto ETF holding primarily Bitcoin and Ethereum, along with other tokens. According to filings, the initial expected allocation is approximately 70% Bitcoin, 15% Ether, 8% Solana (SOL), 5% Crypto.com Coin (CRO), and 2% Ripple (XRP) [2].
Trump Media & Technology Group's entry into the cryptocurrency investment space with its proposed ETF signals a clear intent to diversify its offerings and engage a wider investor base [1]. The fund aims to provide investors with easy access to Bitcoin and Ether through shares backed by these cryptocurrencies, simplifying exposure without the challenges of direct ownership [2].
While the ETF’s approval is pending, Truth Social's Bitcoin and Ethereum-focused crypto ETF is set to be managed with significant Bitcoin and Ethereum holdings, sponsored by Yorkville America Digital, and aims for public listing once regulatory approval is secured [1][2][3][4]. The SEC review delay until mid-September 2025 leaves investors waiting for a final ruling.
It is worth noting that TMTG currently has "no immediate plans" to issue new securities [4]. However, TMTG intends to submit a future amendment outlining the key terms of its prime executive agency agreement with Crypto.com [4]. Key details like the fund's ticker symbol and cash custodian remain undisclosed.
This move by Truth Social follows a significant regulatory milestone, as Trump Media & Technology Group (TMTG) recently secured SEC approval for its $2.3 billion Bitcoin treasury strategy [1]. The potential impact of this move on Truth Social's financial landscape remains to be seen.
References: 1. Truth Social Files for Bitcoin and Ethereum ETF 2. Truth Social Files for Bitcoin and Ethereum ETF: What We Know 3. SEC Delays Decision on Truth Social Bitcoin ETF Until September 2025 4. Truth Social's Bitcoin and Ethereum ETF: What We Know So Far 5. Trump Media & Technology Group's Bitcoin Treasury Strategy Approved by SEC 6. Truth Social Bitcoin and Ethereum ETF to List on NYSE Arca
- Incorporating a wider range of investments, Truth Social's strategy involves the development of a fund focused on technology-based assets like Bitcoin and Ethereum, aligning with the long-term goal of broadening their business beyond traditional media activities.
- With a focus on simplifying investing in technology and finance, the upcoming Bitcoin and Ethereum ETF by Truth Social aims to provide easy access for investors, offering shares backed by these cryptocurrencies, ultimately offering exposure to the financial market without the complexities of direct ownership.
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