Trump Media & Technology Group (NASDAQ:DJT), the parent company of Truth Social, has taken a notable step by filing for a spot Bitcoin exchange-traded fund (ETF) through NYSE Arca, the electronic trading arm of the New York Stock Exchange.
This filing marks a pivotal moment in the company’s ongoing pivot from a social media platform to a broader player in the financial services and cryptocurrency sectors.
The proposed Truth Social Bitcoin ETF aims to provide investors with a regulated, accessible way to gain exposure to Bitcoin without the complexities of direct ownership.
The filing, formally known as a 19b-4 form, is a procedural step required for regulatory approval before the ETF can be listed and traded on a U.S. exchange.
The fund is designed to track Bitcoin’s price, offering a simplified investment vehicle for retail investors looking to capitalize on the cryptocurrency’s growing popularity.
Since the launch of spot Bitcoin ETFs in January 2024, the market for these funds has surged, with total assets exceeding $130 billion.
BlackRock’s iShares Bitcoin Trust, for instance, manages nearly $69 billion, underscoring the investor demand for regulated crypto products.
This development follows a strategic partnership announced in March 2025 between Trump Media and Crypto.com, a digital asset platform with users worldwide.
The collaboration aims to launch a suite of crypto-related products, including token baskets and ETFs, under the Truth Social brand.
These offerings will combine cryptocurrencies like Bitcoin and Crypto.com’s native Cronos token with traditional securities, targeting both U.S. and international investors through major brokerage platforms and the Crypto.com app.
The partnership reflects Trump Media’s aim to carve out a significant presence in the rapidly expanding digital asset space.
Trump Media’s push into cryptocurrency is part of a broader transformation for the company, which has struggled to generate substantial revenue from its Truth Social platform.
In 2024, the company reported a $400 million loss against just $3.6 million in revenue, highlighting the challenges of relying solely on social media advertising.
To address this, Trump Media has diversified its strategy, with recent moves including a $2.5 billion Bitcoin treasury plan unveiled in Las Vegas.
This initiative, funded through a combination of equity and convertible bonds, aims to bolster the company’s financial position by investing heavily in Bitcoin, aligning with a growing trend among businesses to hold cryptocurrencies as corporate treasury assets.
The Truth Social Bitcoin ETF, if approved, would be one of the most high-profile entries into the Bitcoin ETF market, given its association with former President Donald Trump, who holds a majority stake in Trump Media.
The company’s market capitalization stands at approximately $4.6 billion, despite its financial struggles, driven in part by Trump’s political influence and the enthusiasm of his supporter base.
The ETF filing has already sparked market interest, with Trump Media’s stock (DJT) rising 2.1% on June 3, 2025, and gaining an additional 0.46% in after-hours trading.
The filing also coincides with a more favorable regulatory environment for cryptocurrencies.
The Securities and Exchange Commission (SEC), under new leadership appointed by Trump, has shown a more crypto-friendly stance, potentially increasing the likelihood of approval for the Truth Social Bitcoin ETF.
The fund’s custodian, Foris DAX Trust Company, and its sponsor, Yorkville America Digital, are key partners in navigating the regulatory process.
As Trump Media continues to expand its footprint in the crypto space, the proposed ETF represents a convergence of political branding and financial innovation.
If successful, it could redefine Truth Social’s role in the investment landscape, offering a blend of ideological alignment and exposure to the cryptocurrency market.
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