Trump Media Seeks Bitcoin ETF Listing on NYSE Arca

The New York Stock Exchange's electronic division, NYSE Arca, has submitted a filing to the Securities and Exchange Commission (SEC) to list the Truth Social Bitcoin ETF. This ETF is sponsored by Yorkville America Digital, an asset management firm, and is designed to track the price of Bitcoin, offering investors exposure to the cryptocurrency without the need to hold it directly. The custodian of the fund’s digital assets is Foris DAX Trust Company LLC, an affiliate of Crypto.com. This move marks a significant step by Trump Media & Technology Group Corp., the parent company of President Donald Trump’s Truth Social platform, into the crypto space.

The filing follows a series of crypto-aligned initiatives by Trump Media, including trademark applications for digital asset products and a partnership with Crypto.com to develop a suite of digital asset products. These products, which will include baskets of cryptocurrencies and traditional securities, are set to be branded under Trump Media and made available through major brokerage platforms and the Crypto.com app.

The ETF, if approved, would join a growing market of over 60 U.S.-based Bitcoin ETFs, which has seen rapid growth since the SEC approved spot Bitcoin ETFs in January 2024. President Trump has been a strong advocate for crypto, appointing crypto advocate David Sacks as the new SEC chair and proposing the establishment of a strategic Bitcoin reserve. These moves have contributed to the rise in Bitcoin's value.

The White House has stated that the president is separated from his business interests, with Trump transferring roughly $4 billion in Trump Media shares to a trust controlled by his son, Donald Trump Jr. If approved, the Truth Social Bitcoin ETF would be one of the most politically connected entries in the booming crypto investment space, blending digital finance with the complex dynamics of presidential power and personal gain.