Truth Social files S-1 with SEC to launch Bitcoin ETF
Truth Social enters ETF race with SEC filing.
In a significant step toward entering the digital asset space, Truth Social—the media platform tied to President Donald Trump—has officially filed an S-1 registration form with the U.S. Securities and Exchange Commission (SEC) to offer its own Bitcoin exchange-traded fund (ETF).
This filing sets the stage for Truth Social to compete in an already saturated market of spot Bitcoin ETFs.
NYSE Arca kicks off approval process
The filing follows NYSE Arca's submission of a 19b-4 form on June 4, initiating the SEC’s approval process for listing and trading the ETF. The proposed "Truth Social Bitcoin ETF" would primarily hold Bitcoin, with Foris DAX Trust Company serving as the fund’s custodian. Yorkville America Digital will act as the ETF's sponsor.
Though the S-1 filing outlines the structural framework of the ETF, it omits crucial details such as its ticker symbol, seed capital, or share price. The fund intends to offer institutional investors exposure to Bitcoin’s price movement, similar to other spot Bitcoin ETFs already on the market.
A late entry in a competitive field
Commenting on the announcement, Bloomberg ETF analyst Eric Balchunas noted the dual nature of this development. On one hand, Truth Social’s political affiliations make this a novel entry. On the other, the platform is joining a heavily populated ETF space where existing offerings are well-established, highly liquid, and low-cost.
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“It’s going to be really tough to compete, even with the Trump brand behind it,” Balchunas stated, citing the dominance of existing players in the ETF arena.
As the SEC weighs approval, the market will be watching to see if Truth Social can translate political clout into financial traction—especially in a sector where first-mover advantages often define long-term success.
We informed you earlier that Trump Media to buy Bitcoin for $2.5 billion.
