Trump Media Unveils Bitcoin ETF, Dodging Regulation and Daring to Disrupt Crypto

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In a bold crypto move that could only come from the mind of the Donald, Trump Media’s Truth Social Bitcoin ETF has submitted a registration statement to the SEC, aiming to bring Bitcoin to the masses faster than you can say “Make America Great Again.” 💥💰

Trump’s Bitcoin Bet: Truth Social ETF Makes Its Big SEC Push

On June 5, Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT), a company with roots deeper than a billionaire’s pockets, announced it had filed a registration statement with the SEC, hoping for the green light on the Truth Social Bitcoin ETF (BT). This bold move followed NYSE Arca‘s June 3 filing to list the ETF, which, as you’d expect, sent the crypto world into a frenzy. 🤯🚀

Developed with Yorkville America Digital, this exchange-traded fund (ETF) is set to give investors a direct route to bitcoin’s price swings, all through publicly traded shares. Crypto.com will be the exclusive custodian, prime execution agent, and liquidity provider for the ETF. And Trump Media? Oh, they’re hoping this venture will help bring their platforms, Truth Social, Truth+, and Truth.Fi, to the crypto-loving masses. 😏

The ETF is still waiting for its registration to be validated, and the SEC has yet to approve a Form 19b-4 filing. But once it’s in motion, the shares will be listed on NYSE Arca under a yet-to-be-announced ticker. Issuance and redemption of shares will occur in blocks of 10,000 (aka, Baskets) – don’t worry, no one’s selling single shares here! Initially, everything’s gonna be cash-based, but hey, there’s talk of in-kind redemptions in bitcoin down the road, if the SEC gives its blessing. 🤑💸

One thing’s for sure: this ETF is designed to be a passive trust, avoiding risky leverage or derivatives. It’s all about mimicking bitcoin’s price movements (minus expenses, of course). Yorkville America Digital, a firm that’s knee-deep in digital assets and investment themes, is sponsoring the ETF. With Trump’s name attached, this ETF’s spotlight is anything but low-key. While some critics are eyeing the regulatory risks and potential conflicts, others see it as a game-changer for the legitimacy of bitcoin in mainstream finance. 📈

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2025-06-05 19:01