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Donald Trump is extending his push into crypto with a new plan to launch a Truth Social Bitcoin ETF, his latest move in an increasingly controversial expansion into digital assets.
The proposed exchange-traded fund, filed by NYSE Arca on behalf of Yorkville America Digital, a financial partner of Trump Media & Technology Group, aims to track Bitcoin’s price performance.
If approved, the Truth Social Bitcoin ETF would mark a major expansion of Trump’s growing crypto footprint, adding to a controversial digital asset portfolio that includes meme coins, NFTs, and a mining venture, many of which have drawn scrutiny over potential conflicts of interest.
Truth Social Bitcoin ETF To Have Same Custodian As Crypto.com
The filing did not disclose details about the proposed Truth Social Bitcoin ETF, with the management fee and ticker of the fund still unknown.
However, NYSE Arca’s filing did say the fund “seeks to reflect generally the performance of the price of bitcoin.” It will also “reflect such performance before payment of the Trust’s expenses and liabilities.”
The fund will use DAX Trust Company as its custodian, the same company that custody’s Crypto.com’s assets.
Trump’s company just filed for a Truth Social Bitcoin ETF, which will track spot bitcoin and list on NYSE. pic.twitter.com/I3ejMbhyl1
— Eric Balchunas (@EricBalchunas) June 3, 2025
The filing comes after Trump Media & Technology Group signed an agreement with Yorkville America Digital and Crypto.com in April to launch a series of “Made in America” ETFs.
Truth Social Bitcoin ETF Will Add To Controversy Around Trump’s Crypto Expanding Empire
The new Truth Social Bitcoin ETF looks set to add new questions about Trump’s growing influence in the crypto space.
Trump is currently the largest shareholder of Trump Media & Technology Group, but transferred his shares to a trust controlled by his son Donald Trump Jr. prior to entering the White House in January to head off concerns around conflicts of interest.
Despite that, there is concern around the Trump’s involvement in crypto with Trump himself having such great influence over digital asset policy in the US.
Trump’s other crypto endeavors include the Official Trump (TRUMP) and Official Melania Meme (MELANIA) tokens, World Liberty Financial (WLFI), multiple non-fungible token (NFT) collections, a stablecoin and a crypto mining company.
Recently, Trump Jr. said that WLFI will soon be launching its own crypto wallet. However, there has been some confusion in the market after Magic Eden and the team that launched TRUMP said they are partnering to launch the wallet.
Shortly thereafter, the President’s sons disavowed the wallet and said they have no knowledge of the planned launch.
This project is not authorized by @Trump. @MagicEden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization. https://t.co/OovJGvGOkO
— Eric Trump (@EricTrump) June 3, 2025
They also went on to warn Magic Eden about using the Trump family name to accelerate the wallet’s market adoption.
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