Trump Linked Bitcoin ETF Filed With SEC

Yorkville America Digital, an asset manager linked to former U.S. President Donald Trump, has filed for a Bitcoin Exchange-Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The filing, submitted on behalf of Yorkville America Digital by the New York Stock Exchange (NYSE) Arca, seeks to list the Truth Social Bitcoin ETF on the NYSE Arca exchange. This ETF aims to track the price of Bitcoin (BTC) and is backed by Yorkville America Digital, which partnered with Trump Media & Technology Group in April. The filing includes Form 19b-4, which initiates the SEC's review process. The SEC must decide whether to accept, reject, or delay the application within 45 days, with the possibility of multiple delays extending the review period up to 240 days. The final decision on the application is due by January 29, 2026, at the latest.

The proposed ETF does not disclose a management fee or ticker but lists Foris DAX Trust Company, the custodian of Crypto.com’s assets, as the proposed custodian. If approved, the Trump-linked ETF would enter a competitive Bitcoin ETF market, which currently includes 11 similar funds. The largest of these is BlackRock’s iShares Bitcoin Trust ETF, which has significant assets under management. The filing comes after Trump Media signed an agreement in April with Yorkville America Digital and Crypto.com to launch a series of “Made in America” crypto ETFs. This move aligns with Trump Media's broader strategy to integrate cryptocurrencies into its financial services, including plans to introduce a crypto token and wallet into its video streaming site, Truth+.

Trump Media's CEO, Devin Nunes, revealed plans to explore the introduction of a utility token within a Truth digital wallet, which could initially be used to pay for Truth+ subscription costs and later applied to other products and services within the Truth ecosystem. This initiative was first signaled in November when Trump Media filed a trademark application with the U.S. Patent and Trademark Office to build a digital asset wallet and allow crypto payments to be processed on Truth.Fi. The filing for the Truth Social Bitcoin ETF is part of a broader trend of digital assets gaining traction in the financial industry, as more companies seek to capitalize on the growing demand for cryptocurrency investments. This move could significantly influence the digital asset market, given the political and financial clout associated with the Trump name.

Trump and his family have ties to an increasingly growing number of crypto projects, which include multiple non-fungible token (NFT) collections, two memecoins, a stablecoin, a crypto mining company, and a crypto platform with an associated token. The ETF filing comes after Trump Media signed an agreement in April with Yorkville America Digital and Crypto.com to launch a series of “Made in America” crypto ETFs. The 19b-4 filing of the Truth Social Bitcoin ETF effectively initiates the SEC’s review process, and it must decide whether to accept, reject or delay the application within 45 days. It can delay its decision multiple times, for a maximum review period of 240 days. Yorkville will also need to file an S-1 registration statement for the ETF, which informs the SEC what the fund plans to offer, how it will operate, how it intends to use any proceeds raised from investors and associated risks. Trump Media also filed for a “Truth.Fi Bitcoin Plus ETF” in February, which could receive a portion of the $250 million allocated to its fintech platform, Truth.Fi. Trump Media wants to integrate crypto in video streaming site.