Key notes
- Trump Media filed an ETF Bitcoin, expanding his cryptocurrency companies.
- The ETF proposed Truth Social Bitcoin aims to attract politically aligned investors.
- Critics raise ethical concerns about President Trump’s direct participation in cryptographic projects.
On June 3, Nyse Arca presented a 19B-4 form filed with the Securities and Exchange Commission (SEC) of the United States to list the Bitcoin social truth fet. The fund is associated with the media company of President Donald Trump, Trump Media & Technology Group (TMTG).
This proposed ETF aims to follow the Bitcoin cash price, offering investors an exposure to cryptocurrency without the need to keep it directly.
The expansion of Truth Media in the cryptocurrency
The ETF is sponsored by Yorkville America Digital, a partner of TMTG, and, if approved, will be listed on NYSE Arca. Foris Dax Trust Company, affiliated with Crypto.com, is designated as a guardian of digital assets of the fund.
This decision is part of a broader TMTG strategy to develop in the cryptocurrency sector. Earlier this year, the company announced its intention to invest $ 2.5 billion in Bitcoin and other digital assets. In addition, TMTG has teamed up with Crypto.com to develop a series of digital asset products under the brand Truth.fi.
Trump crypto empire: brief breakdown
The companies of President Donald Trump in the cryptocurrency space have developed considerably, encompassing various assets and digital platforms. These initiatives include the launch of NFTS, the pieces even, a stablecoin project and plans for a substantial bitcoin treasure. Although these measures signify a strategic adoption of digital finance, they also triggered debates on conflicts of potential interests and the ethical implications for the involvement of a president in office in such companies.
NFT collections and pieces even
Trump’s foray into the NFTS started with the release of digital negotiation cards, which would have generated more than $ 35 million sales. These NFT, featuring various representations of Trump, were sold in several series and were a significant source of income. In addition, the play even $ Trump, launched on Solana’s blockchain, quickly accumulated a market capitalization of $ 12 billion shortly after its release. The rapid assessment of the room and the concentration of his assets have raised concerns concerning the manipulation of the market and the ethical considerations of a president promoting a cryptocurrency which benefits directly financially.
President Trump first announces his new digital trade cards – America. Buy only 15 cards and get a piece of his “Knockout” debate costume. Buy only 75 or more cards and organize a gala dinner with the president!
Don’t miss! pic.twitter.com/tuyflld76f– Collectrumpcards (@Collectrump) August 27, 2024
Stablecoin initiative and Bitcoin Treasury
The Crypto efforts of the Trump family extend to the development of a stablecoin named USD1, through their World Liberty Financial farm. This Stablecoin attracted significant investments, including an agreement of $ 2 billion with a fund supported by a foreign government. In addition, Trump Media & Technology Group announced its intention to raise $ 2.5 billion to establish a Bitcoin treasure, positioning the company as a major player in the cryptocurrency market. These substantial financial measures have intensified a meticulous examination on the mixture of Trump’s political influence and personal commercial interests.
Truth + platform and utility token
Trump Media also explores the integration of a utility token and a digital portfolio in its streaming service, Truth +. The proposed token would be initially used for subscription payments, with potential expansion in other services within the truth ecosystem. This initiative reflects an effort to integrate cryptocurrency features into the digital platforms of the company, more intersecting Trump’s media with the cryptography industry.
President with crypto: ethical and political dilemma
The FNB Truth Social Bitcoin FNB deposit sparked discussions on conflicts of potential interests, given the association of President Trump with TMTG. While the president has placed his actions in a trust controlled by his son, Donald Trump Jr., the criticisms argue that the intertwining of political influence and financial companies raise ethical concerns.
If it is approved, the FNB Truth Social Bitcoin would join an increasing list of FNB Bitcoin Spot in the United States, a market that has experienced significant growth since the initial dry approvals in January 2024. SEC now has up to 240 days to examine the request, with a final decision expected at the beginning of 2026.
But, unlike Truth Social, other companies do not have the vast media and Trump’s political support. How many people would draw from the FNB affiliated with the president, if it is approved, remains to be seen.
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Yana Khlebnikova joined Coinspeaker as an editor in January 2025, after previous stays at Techopedia, Crypto.News, Cointelegraph and Coinmarketcap, where she perfected her expertise in cryptocurrency journalism.
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