Trump Media & Technology Group, the parent company of Truth Social, has taken a bold step into the cryptocurrency world by filing for a Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). On June 3, 2025, NYSE Arca submitted a 19b-4 form to list the “Truth Social Bitcoin ETF,” a fund designed to track the spot price of Bitcoin. This filing allows investors to gain exposure to Bitcoin without the complexities of directly owning it, such as managing digital wallets or navigating crypto exchanges. For Truth Social, a platform founded by former President Donald Trump to champion free speech, this move marks a significant pivot into the financial sector and underscores its ambition to diversify beyond social media.
A Strategic Crypto Venture
Truth Social’s foray into cryptocurrency is not entirely unexpected. The platform has been laying the groundwork for this move through a recent partnership with Crypto.com and earlier trademark applications for crypto-related investment products. The Truth Social Bitcoin ETF, managed by Foris DAX Trust Company, LLC, aims to make Bitcoin investment accessible to a broader audience by offering a regulated vehicle traded on traditional stock exchanges. This eliminates the technical barriers of crypto ownership, appealing to both retail investors and Trump’s loyal supporter base. While the initial 19b-4 filing lacks specifics like fees or ticker symbols, an upcoming S-1 registration form is expected to provide these details, offering clarity on the fund’s structure and costs.
The move aligns with the growing mainstream acceptance of Bitcoin, which has seen increased institutional interest since the SEC approved 11 spot Bitcoin ETFs in January 2024. By entering this space, Trump Media is capitalizing on Bitcoin’s popularity and its cultural resonance as a decentralized asset often associated with anti-establishment sentiments. This strategic venture could enhance Truth Social’s visibility and financial prospects, especially as the platform seeks to diversify its revenue streams in a competitive social media landscape.
Implications and Next Steps
The SEC has until January 29, 2026, to decide on the Truth Social Bitcoin ETF, with an initial 45-day review period starting from June 3, 2025. Industry analysts are optimistic about approval, given the SEC’s recent track record with Bitcoin ETFs. However, the high-profile branding tied to Trump and Truth Social could invite additional scrutiny, as the SEC may closely examine the fund’s compliance and operational details. If approved, the ETF could attract significant capital, particularly from investors aligned with Trump’s political and cultural influence, as well as crypto enthusiasts seeking regulated exposure to Bitcoin.
- Advertisement -
Also Read: Donald Trump Jr. Bets Big: TMTG’s $2.5B Bitcoin Treasury Shakes Up Crypto World
The filing also carries broader implications. By aligning with Bitcoin, Truth Social is tapping into a growing demographic of retail investors and crypto advocates who view digital assets as a hedge against traditional financial systems. However, risks remain, including Bitcoin’s inherent volatility and potential regulatory hurdles. The ETF’s success will depend on market conditions
- Advertisement -
FAQs
What is the Truth Social Bitcoin ETF?
A proposed ETF by Trump Media, filed on June 3, 2025, to track Bitcoin’s spot price, enabling investors to gain exposure without directly owning the cryptocurrency.
When will the SEC decide on the ETF?
The SEC has until January 29, 2026, with an initial 45-day review period starting from June 3, 2025.
Who will manage the Truth Social Bitcoin ETF?
Foris DAX Trust Company, LLC will manage the ETF, with details on fees and structure expected in an S-1 filing.
Why is Truth Social entering the crypto market?
The move aligns with Trump Media’s strategy to diversify into financial services, leveraging Bitcoin’s popularity and its partnership with Crypto.com.
