Truth.Social, the media platform owned by former U.S. President Donald Trump, has taken a key step toward launching its own Bitcoin exchange-traded fund (ETF), according to a Tuesday filing with the New York Stock Exchange. NYSE Arca submitted a Form 19b-4 seeking regulatory approval to list the ETF, which would directly track the price of Bitcoin (COIN:BTCUSD). The ETF is sponsored by Trump Media & Technology Group Corp (NASDAQ:DJT), where Trump holds a majority stake.
This filing follows a recent partnership between Trump Media and Crypto.com to co-develop digital asset products, including ETFs. The move underscores Trump’s growing involvement in the crypto sector, which has seen increased mainstream acceptance since the U.S. approved spot Bitcoin ETFs in early 2024 – an industry that has now attracted over $44 billion in inflows.
Trump’s engagement with digital assets extends beyond ETFs. In recent months, he launched a memecoin called $TRUMP, and his family founded World Liberty Financial, a crypto-focused venture. Trump Media also recently announced plans for a $3 billion share offering, with proceeds earmarked for cryptocurrency acquisitions.
Bitcoin was trading slightly higher on Wednesday, up 0.2% at $105,688.70.