As reported, Trump Media and Technology’s Bitcoin and related securities now account for about two-thirds of its near $3 billion liquid assets. The firm, which manages Trump’s Truth Social platform, intends to continue expanding its Bitcoin and associated securities portfolio, with a further $300 million already earmarked for a crypto asset options acquisition strategy.

Devin Nunes, Chief Executive, expressed that these assets are crucial to the financial independence of the company, offering protection against financial institution discrimination and fostering synergies with the upcoming utility token for the Truth Social network.

Trump Media has previously ventured into the crypto industry by filing to initiate a Bitcoin investment fund and launching Truth.Fi, a finance company that intends to invest approximately $250 million in cryptocurrencies and other assets.

Through the signing of the Genius Act into law, Trump has facilitated widespread adoption and investment in the crypto industry, providing oversight for stablecoins, a crypto asset usually tied to a government currency like the US dollar. Furthermore, Trump has been advocating for the passing of the Clarity Act, which would establish a definitive regulatory framework for digital assets.

Once critical of the industry, Trump last year pledged to make the US the “crypto capital of the world” and to reduce regulatory hurdles in the sector.

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The source of this news is an article from Reuters, which can be accessed at the following link: https://tinyurl.com/mtz4hkea. However, it’s important to mention that Reuters has not independently verified this report and cannot guarantee its authenticity.

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The exclusive bitcoin custodian, main execution agent, and liquidity provider for this ETF will be Crypto.com, as revealed in a document filed with the Securities and Exchange Commission.

Trump Media, which manages the Truth Social platform, last month disclosed its intention to raise approximately $2.5 billion from institutional investors for bitcoin purchase. The raised funds would be used to establish a cryptocurrency treasury.

“Bitcoin is the ultimate tool for financial freedom in our view, and hence, will be a vital part of our assets,” stated Devin Nunes, the Chief Executive of Trump Media.

In addition to this, the company has also delved into other crypto-related ventures. It launched a finance company named Truth.Fi earlier this year and announced an allocation of around $250 million for cryptocurrency and other investments.

The second Trump administration has shown a welcoming attitude towards the crypto industry, with Congress likely to pass crypto-favorable legislation. Other companies like MicroStrategy, Tesla, and Rumble have also recently included bitcoin in their balance sheets amid the booming interest in the industry.

Contact Connor Hart for more details at connor.hart@wsj.com

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The proposed Truth Social Bitcoin ETF aims to mirror the spot price of Bitcoin, offering a regulated route for investors to gain exposure to the world’s leading cryptocurrency. According to the 19b-4 submission, “The Shares aim to offer a simpler alternative to investing in Bitcoin directly, whether via peer-to-peer transactions, other bases, or digital asset trading platforms.” The ETF will run under NYSE Arca Rule 8.201-E and will permit the creation and redemption of shares in blocks of 10,000 or more. The proposed fund’s net asset value (NAV) will be calculated daily using the CF Benchmarks Index.

The custodian for the proposed ETF is Foris DAX Trust Company. The filing, however, did not disclose the fees or the ticker symbol for the Truth Social Bitcoin ETF. Yorkville will also need to file an S-1 registration that will likely elucidate all the specifics. According to Bloomberg’s senior ETF analyst Eric Balchunas, the “Trump” name is not visible on the ETF or anywhere in the documents, though it is widely known that Truth Social is owned by Trump.

The SEC has 45 days from the posting of the 19b-4 filing on the Federal Register to accept, reject, or delay the application. This period can be extended to 90 days or a maximum of 240 days if required, setting the final decision deadline as January 29, 2026. If approved, Truth Social would be the first social media platform to sponsor a Bitcoin ETF.

The chances of the Truth Social Bitcoin ETF gaining approval seem promising, since the SEC has already granted permission to 11 spot Bitcoin ETFs. This move comes after Trump Media and Technology Group’s February application for trademarks for various tailored ETFs and separately managed accounts (SMAs). The company has also entered into service and licensing agreements with Yorkville Advisors.

In addition, it was reported that Crypto.com and Trump Media joined forces to launch new altcoin ETFs in March. Trump Media also disclosed its plans to establish a Bitcoin treasury by buying $2.32 billion in BTC.

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A Form 19b-4 was submitted to the NYSE Arca division on Tuesday, initiating the process for the Truth Social Bitcoin ETF. This ETF aims to follow the price movements of Bitcoin and requires approval from the Securities and Exchange Commission (SEC) to start listing and trading.

According to the application, “The Trust aims to mirror the performance of Bitcoin’s price, minus the Trust’s expenses and liabilities.” Yorkville America Digital, LLC is the sponsor of the Trust, while Foris DAX Trust Company, LLC is the custodian, as per the details mentioned in the application. Yorkville was previously described as an “America-first asset management firm” in a press release.

The Trump Media and Technology Group, listed on Nasdaq, operates Truth Social and Truth.Fi. The latter was established in January and green-lighted to invest up to $250 million of its $700 million+ cash reserves into traditional investment vehicles, SMAs, ETFs, Bitcoin, and “similar cryptocurrencies or crypto-related securities.” Recently, the group also established a corporate Bitcoin treasury with a $2.5 billion offering.

The SEC has been exhibiting a more favorable stance in its approach to regulating the crypto industry, including discontinuing certain lawsuits and investigations. Its new chair, Paul Atkins, has declared it a “new day” for the agency. This move by Truth Social is notable in the race for spot crypto ETFs, as it directly links a former president to the application.

Disclaimer: The Block is an independent media outlet offering news, research, and data. As of November 2023, Foresight Ventures, which invests in other crypto companies, is a majority investor in The Block. The Block operates independently to provide unbiased, impactful, and timely information about the crypto industry. This article is intended for informational purposes only and should not be considered as financial, legal, tax, investment, or other advice.

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The private placement offering involved the sale of $1.44 billion of the company’s common stock and $1 billion in convertible debt. The transaction engaged about 50 institutional investors and concluded successfully. Initially, on Tuesday, the company had expressed its intent to sell $1.5 billion of its common stock along with $1 billion in convertible debt.

With the net proceeds from the sale, Trump Media has become one of the largest bitcoin holders among publicly traded firms in the U.S, the company stated. “This deal sets up Trump Media for the swift expansion we’ve always aimed for,” commented Chief Executive, Devin Nunes. Following the news, shares soared 6.6% to $22.20.

Reach out to Kelly Cloonan at kelly.cloonan@wsj.com for more information.

© 2025 Dow Jones & Company, Inc. All rights reserved.

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These ETFs, facilitated through Crypto.com’s brokerage firm Foris Capital US LLC, are projected to consist of digital assets as well as Made in America securities spanning diverse sectors like energy. Crypto.com will manage the backend technology, custody, and supply the cryptocurrencies for these ETFs, which are expected to feature a unique basket of cryptocurrencies including Bitcoin, Cronos, among other crypto assets.

Subject to definitive agreements and regulatory approval, these funds are planned to be launched later this year and are expected to be widely available internationally, including in the US, Europe, and Asia across existing platforms and brokerages.

Devin Nunes, TMTG’s CEO and Chairman, expressed his excitement about the partnership with Crypto.com, and Yorkville America, to launch investment products supporting innovative crypto projects and American companies. He also highlighted their aim to create innovative funds incorporating companies focused on rapid growth, technological innovation, and strengthening the US economy, free from political posturing.

Kris Marszalek, Co-founder and CEO of Crypto.com, affirmed their pride in partnering with Truth Social (DJT) and Yorkville America, and supporting the launch of these new ETFs. He emphasized that these ETFs will provide consumers with more options from a brand with a loyal following. Once launched, these ETFs will be available on the Crypto.com App for their more than 140 million users globally.

The ETFs are scheduled to launch alongside a range of Truth.Fi Separately Managed Accounts (SMAs), both of which TMTG is planning to invest in using its cash reserves, as part of a financial services and FinTech strategy, with funds up to $250 million to be custodied by Charles Schwab.

About TMTG and Crypto.com: TMTG aims to counter Big Tech’s assault on free speech by promoting open Internet and giving people their voices back. Crypto.com, established in 2016, is trusted by more than 140 million customers worldwide and is committed to accelerating the adoption of cryptocurrency.

Notes: Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from the expectations that we describe in our forward-looking statements. Risk factors include our ability to recognize the anticipated benefits of Truth.Fi, the possibility of adverse economic, business, and/or competitive factors; our ability to develop and launch new products and offerings; our ability to obtain regulatory approval, among others.

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