BREAKING: Trump’s Crypto Bullishness Continues, Truth Social Files for Bitcoin, ETH ETFs

Key Insights:

• Truth Social filed for crypto products like Bitcoin and Ethereum ETFs in June 2025.
• Yorkville is sponsor.
• SEC decision expected by January 2026.

Trump Media’s Trump Media & Technology Group (TMTG) – operator of Truth Social – has moved forward with SEC filings for a spot Bitcoin ETF and a combined Bitcoin/Ethereum ETF.

On June 3, NYSE Arca submitted a Form 19b‑4 to list a “Truth Social Bitcoin ETF” on the exchange. The sponsor is Yorkville America Digital, LLC (Tennessee/New Jersey), and Crypto.com’s affiliate Foris DAX Trust Company will serve as custodian.

Yorkville filed the fund’s initial S‑1 registration on June 5. Then on June 16 TMTG filed a new S‑1 for a Truth Social Bitcoin and Ethereum ETF, B.T., proposing a combined-trust product.

That registration states the ETF would hold both cryptocurrencies (75% Bitcoin, 25% Ether) and would be “custodied by Crypto.com”.

SEC Review Timeline and Updates

With the 19b‑4 now filed, the SEC’s formal review clock has started. By rule the agency has 45 days to respond (by about mid-July) with approval, rejection or delay – and can extend up to 240 days total.

The deadline for a decision on the Bitcoin ETF could be as late as Jan. 29, 2026. The SEC has not publicly commented on Truth Social’s filings.

Bloomberg ETF analyst James Seyffart flagged the June 16 filing, noting it confirms a “dual Bitcoin & Ethereum” structure and the 75/25 split seen in the registration. If approved, the shares would be listed on NYSE Arca under a ticker to be determined, as stated in the SEC filing.

In the broader crypto ETF context, recent SEC actions have been favorable. In January 2025 the agency granted accelerated approval to Bitwise’s combined Bitcoin‑Ethereum ETF on NYSE Arca.

It also approved single-asset spot Ethereum ETFs from issuers like Franklin Templeton, Fidelity, Bitwise, 21Shares and others in mid-2024.

Major firms like BlackRock and VanEck likewise saw spot ETH funds approved. Grayscale has announced plans to convert its Bitcoin and Ethereum trusts to ETFs. By contrast, the Truth Social filings add a new brand (an “America First” crypto‐themed platform) to this growing field, but the basic structure is similar to existing spot ETFs.

When the Truth Social Bitcoin ETF filing went public, Bitcoin traded around $106,700 and Ether around $2,614. By mid-June 2025 prices were roughly unchanged: CoinMarketCap data shows Bitcoin near $106,830 and Ethereum around $2,619.

This stability comes amid global events such as the Middle East tensions that have not significantly derailed crypto markets.

The U.S. spot Bitcoin ETF market has grown over $130 billion in assets since the first launches in January 2024. BlackRock’s iShares Bitcoin Trust (IBIT) alone holds roughly $70 billion. Truth Social’s filings would enter a crowded market, joining funds from Fidelity, Franklin Templeton, Grayscale and others.

Trump’s Crypto ETF Filings

Truth Social’s filings parallel moves by other issuers. For Bitcoin, the SEC has already approved over a dozen spot BTC ETFs (BlackRock, Fidelity, Franklin, Bitwise, etc.) with combined assets in the tens of billions.

For Ether, recent approvals include spot ETH ETFs from multiple issuers (Franklin, Fidelity, Bitwise, 21Shares, etc.). Notably, Bitwise’s combined BTC/ETH ETF now trades, making Truth Social’s proposed 75/25 BTC/ETH fund structurally similar.

Unlike earlier crypto trusts (e.g. Grayscale’s old GBTC, ETHE), these new ETFs hold crypto directly and trade on public exchanges. The Truth Social offerings would thus be part of a new wave of crypto funds, not unlike those from BlackRock or Invesco/ARK.

As of now, Truth Social’s Bitcoin and Bitcoin+Ethereum ETF registrations are pending SEC effectiveness. Future steps include SEC review of the S‑1 and 19b‑4, potential public comment, and eventual listing on NYSE Arca. Observers will watch whether the SEC’s recent crypto-friendly trend will extend to these new Trump-linked ETFs.

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