Anna Barclay | Getty Images
President Donald Trump’s Truth Social platform is closer to offering a bitcoin exchange-traded fund for everyday investors.
On Tuesday, NYSE Arca, the digital division of the New York Stock Exchange that facilitates most ETF trading, submitted a request to list a bitcoin fund linked to the president’s media company. This move signifies Trump’s growing presence in the cryptocurrency sector. The filing, known as a 19b-4 form, is necessary before regulators can evaluate whether the fund can be launched and traded on a U.S. exchange.
The fund, named the Truth Social Bitcoin ETF, aims to mimic bitcoin’s price movements, providing investors an easier way to invest without directly owning the cryptocurrency. This filing comes after Trump Media’s collaboration with Crypto.com in March to introduce a range of digital asset products later this year, pending approval from regulators.
The anticipated products will include collections of cryptocurrencies, such as bitcoin and Crypto.com’s own Cronos token, in addition to traditional investments. These offerings will be promoted under the Trump Media name and will be made available to global investors via major brokerage platforms and the Crypto.com app, which serves over 140 million users worldwide.
Since the introduction of spot bitcoin ETFs in January 2024, the market has witnessed significant growth, now exceeding $130 billion in total assets. Currently, BlackRock‘s iShares Bitcoin Trust (IBIT) holds almost $69 billion in assets, establishing it as the largest digital asset manager globally.
Trump is the majority stakeholder of Truth Social’s parent company, Trump Media & Technology Group, which has engaged in several crypto-related initiatives recently—including trademarking digital asset products and launching a $2.5 billion bitcoin investment plan last week in Las Vegas. If the ETF receives approval, it would mark one of the most politically connected entries into the rapidly growing bitcoin fund market.
WATCH: SEC Commissioner Peirce discusses the Binance case: We’re establishing the rules first, then enforcing them.
