Truth Social, the social media platform associated with Donald Trump, has officially filed for a spot Bitcoin exchange-traded fund (ETF) listing on the NYSE Arca as of June 3, 2025. This ETF proposal aims to track Bitcoin's spot price, offering investors direct exposure to Bitcoin without the need to handle digital wallets.
The filing highlights Truth Social's expansion into the cryptocurrency market, positioning itself as a major player in crypto financial innovation. The ETF will be managed by Yorkville America Digital, LLC and custody will be provided by Foris DAX Trust Company employing cold storage solutions to enhance security.
Trading under NYSE Arca’s Rule 8.201-E, which governs commodity-based trust shares, the ETF will base its net asset value (NAV) calculations on the CF Benchmarks Index, aggregating Bitcoin price data from top exchanges like Coinbase, Bitstamp, and Kraken to ensure regulatory compliance and pricing accuracy. Shares will represent a fractional interest of the Bitcoin assets held in trust, and investors can gain exposure through traditional brokerage accounts.
Truth Social's move reflects parallels to institutional Bitcoin adoption strategies such as those of MicroStrategy, aiming to raise $3 billion for crypto assets through partnerships with key crypto firms, including Crypto.com. The SEC’s review process remains ongoing, yet the proposal follows established frameworks similar to other SEC-approved Bitcoin ETFs, which may increase its approval chances.
The initiative signals a significant expansion of Bitcoin investment opportunities, potentially boosting Bitcoin's market value by facilitating mainstream and institutional involvement. It also highlights a broader crypto strategy linked to Trump Media and Technology Group, potentially positioning affiliated entities prominently in U.S. crypto markets.