Trump Media Files for Spot Bitcoin ETF, Signaling Major Crypto Push
- The filing mentioned Foris DAX Trust Company, Crypto.com’s asset custodian, as the proposed custodian of the ETF.
- Currently, there are 11 approved spot Bitcoin ETFs, led by BlackRock’s IBIT, holding around $69 billion in assets.
The Trump Media and Technology Group has filed for a spot Bitcoin exchange-traded fund. After this measure, the group has officially entered the competitive world of crypto investment products.
On June 3, the firm made a filing with the Securities and Exchange Commission, and the stock exchange NYSE Arca submitted a Form 19b-4 on the side of Yorkville America Digital, the asset management firm.
The focus of the ETF is to track the price of BTC and list it on NYSE Arca. However, the ticker or management fee associated with this remained undisclosed. The filing mentioned Foris DAX Trust Company, Crypto.com’s asset custodian, as the proposed custodian of the ETF.
Now, the SEC has to decide within 45 days whether to issue a decision or delay the filing. As per the current rules, the agency can have around 240 days to reach the final conclusion, with the latest decision deadline set on January 29, 2026.
The Conflict of Interest
Yorkville should also submit an S-1 registration describing the structure, risk factors, and use of proceeds of ETFs. Currently, there are 11 approved spot Bitcoin ETFs, led by BlackRock’s IBIT, holding around $69 billion in assets.
However, this product can also attract a politically motivated investor base or raise further questions regarding conflicts of interest. The filing mentions that the trust looks to mirror the performance of the price of Bitcoin, before payment of the Trust’s expenses and liabilities.
In April 2025, the firm also signed a deal with Crypto.com along with Yorkville to make “Made in America” crypto ETFs and has promised up to $250 million from its reserves to fund these ventures.
Last week, TMTG generated $2.4 billion to make a Bitcoin treasury. In February, the firm also filed for the trademark “Truth.Fi Bitcoin Plus ETF, in order to broaden the fintech and crypto footprint.
The crypto involvement of President Trump has been debatable over the past few days, since he organized a Gala Dinner. However, this move signifies a mainstream push of crypto.
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Trump Media Files for Spot Bitcoin ETF, Signaling Major Crypto Push
- The filing mentioned Foris DAX Trust Company, Crypto.com’s asset custodian, as the proposed custodian of the ETF.
- Currently, there are 11 approved spot Bitcoin ETFs, led by BlackRock’s IBIT, holding around $69 billion in assets.
The Trump Media and Technology Group has filed for a spot Bitcoin exchange-traded fund. After this measure, the group has officially entered the competitive world of crypto investment products.
On June 3, the firm made a filing with the Securities and Exchange Commission, and the stock exchange NYSE Arca submitted a Form 19b-4 on the side of Yorkville America Digital, the asset management firm.
The focus of the ETF is to track the price of BTC and list it on NYSE Arca. However, the ticker or management fee associated with this remained undisclosed. The filing mentioned Foris DAX Trust Company, Crypto.com’s asset custodian, as the proposed custodian of the ETF.
Now, the SEC has to decide within 45 days whether to issue a decision or delay the filing. As per the current rules, the agency can have around 240 days to reach the final conclusion, with the latest decision deadline set on January 29, 2026.
The Conflict of Interest
Yorkville should also submit an S-1 registration describing the structure, risk factors, and use of proceeds of ETFs. Currently, there are 11 approved spot Bitcoin ETFs, led by BlackRock’s IBIT, holding around $69 billion in assets.
However, this product can also attract a politically motivated investor base or raise further questions regarding conflicts of interest. The filing mentions that the trust looks to mirror the performance of the price of Bitcoin, before payment of the Trust’s expenses and liabilities.
In April 2025, the firm also signed a deal with Crypto.com along with Yorkville to make “Made in America” crypto ETFs and has promised up to $250 million from its reserves to fund these ventures.
Last week, TMTG generated $2.4 billion to make a Bitcoin treasury. In February, the firm also filed for the trademark “Truth.Fi Bitcoin Plus ETF, in order to broaden the fintech and crypto footprint.
The crypto involvement of President Trump has been debatable over the past few days, since he organized a Gala Dinner. However, this move signifies a mainstream push of crypto.
Highlighted Crypto News Today:
Ripple’s RLUSD Approved by Dubai Regulator as Recognized Crypto Token
Read More