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Donald Trump extends his thrust into the crypto with a new plan to launch a Truth Social Bitcoin ETF, his latest decision in an increasingly controversial expansion in digital assets.
The fund proposed on the Stock Exchange, deposited by Nyse Arca on behalf of Yorkville America Digital, financial partner of Trump Media & Technology Group, aims to follow the performance of Bitcoin prices.
If it is approved, the FNB Truth Social Bitcoin would mark a major expansion of Trump’s growing cryptographic footprint, adding to a controversial digital asset portfolio which includes even parts, NFT and a mining company, many of which have been examined on potential conflicts of interest.
Truth Social Bitcoin ETF to have the same goalkeeper as Crypto.com
The deposit has not disclosed details on the FNB proposed Truth Social Bitcoin, the management fees and the fund’s ticker are still unknown.
However, the Nyse Arca file said that the fund “seeks to generally reflect the performance of the Bitcoin Price”. He will “also reflect these performances before payment of the expenses and liabilities of the trust”.
The fund will use Dax Trust Company as a guardian, the same company as the assets of Custody Crypto.com.
Trump’s company has just filed an FNB Truth Social Bitcoin, which will follow the Bitcoin spot and the list on NYSE. pic.twitter.com/i3ejmbyl1
– Eric Balchunas (@ericbalchunas) June 3, 2025
The file comes after Trump Media & Technology Group signed an agreement with Yorkville America Digital and Crypto.com In April to launch a series of ETF “Made in America”.
Truth Social Bitcoin ETF will add to the controversy around the expansion Empire of Trump cryptography
The New Truth Social Bitcoin ETF seems ready to add new questions about Trump’s growing influence in cryptographic space.
Trump is currently the largest shareholder of Trump Media & Technology Group, but transferred his actions to a trust controlled by his son Donald Trump Jr. before entering the White House in January to avoid concerns about conflicts of interest.
Despite this, there are concerns around Trump’s involvement in the crypto with Trump himself having such a great influence on the policy of digital assets in the United States.
Trump’s other Crypto efforts include the official Trump tokens (Trump) and Melania Same (Melania), World Liberty Financial (WLFI), several non -fascinable tokens (NFT), a Stablecoin and a cryptographic reduced company.
Recently, Trump Jr. said WLFI will soon launch his own cryptographic portfolio. However, there was some confusion on the market after Magic Eden and the team that launched Trump said they joined the portfolio.
Shortly after, the president’s sons disowned the portfolio and said they had no knowledge of the planned launch.
This project is not authorized by @Asset. @Magieden I would be extremely careful using our name in a project that has not been approved and which is unknown to anyone in our organization.
– Eric Trump (@erictrump) June 3, 2025
They also continued Magic Eden to use the Trump surname to accelerate the adoption of the wallet market.
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