On Tuesday, NYSE Arca, yes, the heavyweight behind the New York Stock Exchange, filed a document with the Securities and Exchange Commission (SEC) to launch a brand-new Bitcoin ETF. But hold onto your hats, because this isn't just any ETF. This one's going to be backed by none other than Donald Trump’s media empire, Truth Social.
In case you missed it, the filing (a 19b-4 document, for the finance nerds) outlines the creation of an ETF that would track Bitcoin’s price, much like other already-existing spot Bitcoin ETFs. But here’s the kicker: the fund would be trading under the bold and, let’s be honest, totally Trumpian name Truth Social Bitcoin ETF.
Speaking of spot ETFs, let’s take a quick peek at how the existing Bitcoin ETFs performed yesterday.
🦅 Spot ETF Flows: Around 3,587 $BTC were sold and 41,638 $ETH were bought on June 3rd. 🚀
— HodlFM Team (@Hodl_fm) June 4, 2025
💚+3,587 $BTC +$378M)
🟩+41,638 $ETH (+$109.5M)
🔹Coinbase US appstore rank: 375
+9 from yesterday pic.twitter.com/tfdjliltjK
The filing was made on behalf of Yorkville America Digital, a crypto asset manager that’s in cahoots with Trump Media & Technology Group, the brains behind Truth Social. And if this all sounds like a big deal, that’s because it is. If the SEC gives this the stamp of approval, it could mean big things for both Bitcoin investors and Trump’s media brand.
Custodian for the Fund and Next Steps
But wait, there’s more! The custodian for this fund, assuming it gets the green light, will be none other than Foris DAX Trust Company. Foris DAX is already trusted to manage assets for platforms like Crypto.com, so it's no stranger to big crypto names. So, if you were wondering who’s handling the trust and security of all that Bitcoin, you’ve got your answer.
For those who might not be too familiar with the process, the 19b-4 filing is a necessary step for self-regulatory organizations (SROs) to propose rule changes. But that’s not the only paperwork that needs to be filed; an additional document, called the S-1, also has to be submitted to make this whole thing official.
If all goes according to plan, the Truth Social Bitcoin ETF could help bring Bitcoin to the masses with a bit of a political twist. After all, it’s not every day that a former U.S. President’s media company jumps into the crypto game. Could this new venture be the start of something big for both Trump’s media presence and the world of Bitcoin ETFs? Only time will tell, but it’s certainly an interesting play.
So, get ready. The Truth Social Bitcoin ETF might just be the next big thing in the crypto world, and it’s coming to you with the full force of the NYSE Arca behind it. Time to see if Trump can make Bitcoin great again!
Gunel Ismayilova
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