US President Trump’s Social Media Firm to Launch a | Crypto Work Pro
NYSE Arca, half of the New York Stock Exchange, yesterday (Tuesday) filed with the Securities and Exchange Commission (SEC) for approval to launch an exchange-traded fund (ETF) that tracks the price of Bitcoin, proposed by Truth Social, the social media company backed by US President Donald Trump.
Truth Social Bitcoin ETF
The exchange submitted the regulatory submitting on behalf of crypto asset supervisor Yorkville America Digital, a associate of Trump Media & Technology Group (TMTG), the proprietor of Truth Social.
If accredited, the fund would commerce underneath the identify Truth Social Bitcoin ETF, and its custodian could be Foris DAX Trust Company, which additionally supplies related providers for Crypto.com’s belongings.
JUST IN: 🇺🇸 President Trump’s Truth Social filed for a Bitcoin ETF 🚀 pic.twitter.com/txxMqKJytu
— Bitcoin Magazine (@BitcoinMagazine) June 3, 2025
The submitting submitted yesterday was a 19b-4 type, which seeks regulatory approval for introducing new merchandise or amending present guidelines. For the ETF to be traded, the SEC should additionally approve S-1 kinds filed by Truth Social, the potential issuer of the instrument.
The S-1 registration kinds include detailed details about new securities to be supplied to the public. For ETFs, these embrace the fund’s construction, management, and investment strategy, together with data on how the fund tracks the efficiency of the underlying belongings. The SEC makes use of these kinds to assess the risk and transparency of such funds.
Bitcoin ETFs Are Popular
The SEC first accredited Bitcoin ETFs in early 2024, permitting 11 such funds to commerce on US stock exchanges concurrently. The issuers of these funds embrace main mainstream financial establishments like BlackRock and Fidelity, together with crypto-focused corporations similar to Bitwise and Grayscale.
Just a few months after the Bitcoin ETFs have been accredited, the American regulator additionally accredited Ether ETFs. Now, many corporations are looking for approval for ETFs based mostly on different cryptocurrencies, similar to XRP, Solana, and even Dogecoin.
Meanwhile, Truth Social’s curiosity in cryptocurrencies turned evident earlier this 12 months when it utilized to trademark six investment merchandise associated to Bitcoin and different sectors.
This article was written by Arnab Shome at www.financemagnates.com.
Stay up to date with the most recent developments in Crypto! Our web site is your go-to source for cutting-edge crypto information,
