Trump Media & Technology Group (TMTG), the operator of Truth Social, has submitted an amended Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), the company said in a press release. This pertains to their proposed Truth Social Bitcoin ETF. The updated filing reiterates Crypto.com’s role as the exclusive Bitcoin custodian, primary execution agent, and liquidity provider. It also names Yorkville U.S. Digital Corp. as the ETF’s official sponsor.
The tweak reflects adjustments in its offering structure as it advances through the regulatory review process. Shares are expected to trade on NYSE Arca, pending SEC approval of both the amended S-1 and a separate Form 19b-4 filing.
Trump Media’s crypto strategy
TMTG’s proposed ETF aligns with a broader push to provide mainstream investors with simplified access to Bitcoin exposure. The bitcoin treasury initiative and ETF efforts form part of its broader strategy under the “America First” investment ethos, linking fintech expansion and cryptocurrency as dual pillars of its growth.
Founded in 2021 and majority-owned by Donald Trump, TMTG operates social media (Truth Social), streaming (Truth+), and fintech (Truth.Fi) platforms. he company is aggressively positioning itself as a crypto-forward entity. It plans to establish a $2.5 billion “Bitcoin treasury” through equity and bond issuance.
Other spot Bitcoin ETF issuers
A broad group of major asset managers like Valkyrie, BlackRock, WisdomTree, VanEck, Invesco, Galaxy, Grayscale, among others, have all submitted amended Form S-1 filings to the SEC. These filings typically detail fee structures, market-maker identities, and other operational specifics. Once green-lighted by the regulator, there would be more Bitcoin ETPs for investors to choose from. The approval of spot Bitcoin ETFs in January 2024, marked a watershed moment for the industry by simplifying cryptocurrency investing.