Trump Media & Technology Group, the company behind Truth Social, has filed an amended with the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund.
Operational partners are named in the filing. Crypto.com will serve as the Bitcoin custodian and liquidity provider, while Yorkville America Digital will act as the fund’s sponsor, according to a Monday release.
The amendment still omits key details, including the fund’s fee and ticker symbol, as noted by Bloomberg Intelligence analyst Eric Balchunas.
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Balchunas has also said the proposed ETF could find it hard to attract investors because it is entering an already crowded market and arriving late compared to established spot Bitcoin funds.
The launch would require the SEC to declare the registration effective and to approve a separate Form 19b-4 for listing. If approved, the ETF’s shares would trade on the fully electronic U.S. stock exchange, NYSE Arca.
If approved, the ETF would hold spot Bitcoin and issue shares to investors, seeking to mirror Bitcoin’s price performance closely.
Trump Media files SEC amendment to June 5 S-1
An SEC amendment filed Monday to the original S-1 from June 5, 2025, did not include a formal change log.
Even so, a side-by-side read shows updates spanning June through August 2025, reflecting recent events and tighter disclosures.
The new S-1 adds language on the April 2025 Digital Asset Cooperation Agreement and sets policies for handling “Incidental Rights,” such as airdrops.
It also refreshes the list of CF Benchmarks Index platforms and clarifies how share creations and redemptions would work in practice.
These include references to the GENIUS Act and new stablecoin-related risks, plus expanded discussion of hard forks and policy moves through August 2025, including executive orders. The filing also replaces the prior Trust Agreement with a restated version dated in 2025.
The spot Bitcoin ETF market is already led by BlackRock, Fidelity, Grayscale, and Ark Invest. These firms have large investor bases and a strong record of offering low-cost, high-liquidity funds.
To win attention, the Truth Social ETF would likely need to cut fees sharply or offer a clear point of difference. Beyond price, it must also build investor trust to match the established players.
