The expansive cryptographic empire of US President Donald Trump may grow even larger, because the reports show the plans of the stock exchange fund (ETF) from its social media platform, Truth Social.
NYSE ARCA Stock Exchange filed For the Truth Social Bitcoin ETF with the Securities and Exchange Commission on June 3 on behalf of Crypto Asset Manager Yorkville America Digital, partner of the owner of Truth Social, Trump Media & Technology Group.
Trump is a majority owner of Trump Media, but he moved his shares into the trust controlled by his son, Donald Trump Jr. before he re -entered the White House.
ETF tries to exchange on the Nyse Arca stock exchange and track the price of Bitcoin (BTC). The application did not disclose the fee for management or ticking, but the foris Dax Trust Company, the asset guardian of Crypto.com, as the proposed Custodian was replaced.
If it is approved, the ETF is associated with Trump enters the crowded ETF Bitcoin market on 11 similar funds dominated by ETF Blackrock Bitcoin Trust (IBIT) with almost $ 69 billion of dollars of managed assets.
This can also add to the controversial connections of Trump and Krypto, which, according to critics, are a conflict of interests with his presidential duties and accused Trump of profits from the presidency.
Trump and his family have connections with an increasingly growing number of cryptographic projects that include many tokena collection (NFT), two memecoins, Stablecoin, a company dealing with cryptographic extraction and a cryptographic platform with a related token.
The ETF contribution appears after Trump Media signed a contract in April with Yorkville America Digital and Crypto.com to launch the ETF Crypto series “Made in America”.
Application ETF Bitcoin Social Bitcoin from 19b-4 effectively initiates the SEC review process and must decide whether to accept, reject or delay the application within 45 days. He can delay his decision many times, for a maximum review period of 240 days.
Related: Donald Trump gives conflicting answers to Memecoin profits
SEC must make an application at the latest by January 29, 2026.
Yorkville will also have to make a S-1 registration declaration for ETF, which informs SEC, what the fund plans to offer how it will work, how it intends to operate all influence stimulated by investors and related risk.
Trump Media also submitted an application for “Truth.fi Bitcoin Plus ETF” in February, which can receive a part of $ 250 million intended for the fintech platform, Truth.fi.
Trump Media wants to integrate the crypto on the video stream site
Trump Media also wants to integrate the token and cryptographic portfolio with the video, Truth+, company general director, Devin Nunes, told shareholders on April 29.
“We are investigating the introduction of a utility token in a digital portfolio of truth, which can initially be used to pay for the costs of subscribing to truth, and later to apply to other products and services in ecological truth.”
Trump Media first signaled the plans of the potential cryptographic payment project in November last year, when he submitted a trademark to the American patent office and trademark in order to build a digital asset portfolio and enable the processing of cryptographic payments at Truth.Fi.
Warehouse: Trump’s crypto projects are raised by a conflict of interest, questions about trade in confidential information
