The NYSE Arca has submitted an application to the U.S. Securities and Exchange Commission (SEC) for the registration of a new exchange-traded fund, the Truth Social Bitcoin ETF. The launch of this financial product is initiated by the media platform Truth Social, which is owned by Trump Media & Technology Group (TMTG), actively expanding its operations in the digital asset sector.
This is reported by Finway
Features of the New Truth Social Bitcoin ETF
The Truth Social Bitcoin ETF will allow investors to invest in Bitcoin through a traditional exchange mechanism without directly purchasing the cryptocurrency. The fund’s custodian will be Foris DAX Trust Company, which will be responsible for holding the Bitcoins underlying the ETF’s assets. The net asset value (NAV) will be calculated according to the CF Benchmarks Index, regulated by the Financial Conduct Authority of the UK, and based on data from leading exchanges such as Coinbase, Kraken, Gemini, Bitstamp, Crypto.com, and others. This mechanism ensures transparency and a fair determination of the market value of the assets.
The application was submitted under rule 8.201-E, which regulates commodity trust shares on the NYSE Arca. Donald Trump’s name is not mentioned in the documents, but the connection to Truth Social is evident, given TMTG’s ownership structure.
Context and Future Plans of TMTG
In March 2025, Trump Media & Technology Group entered into a partnership agreement with the cryptocurrency exchange Crypto.com to launch a series of ETFs and exchange-traded products under the Truth.Fi brand. Additionally, the company announced the creation of a Bitcoin reserve worth $2.5 billion, highlighting its intentions to strengthen its position in the digital asset market.
“It appears that the custodian is Foris DAX. The commission and ticker have not yet been specified. I assume that an S-1 form [a special statement for digital asset-based products] will soon appear with additional information. It is also worth noting that the name ‘Trump’ is not mentioned anywhere in the documents, although everyone knows who owns Truth Social.”
Investors expect that the emergence of the Truth Social Bitcoin ETF will open new opportunities for participation in the Bitcoin market and expand the range of traditional financial products related to cryptocurrencies.