Key Takeaways
- Truth Social’s parent company filed for a Bitcoin spot ETF with the SEC.
- The Bitcoin ETF will track Bitcoin’s price and be listed on NYSE Arca.
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Yorkville America Digital, a Florida-based asset manager that recently entered into a partnership with Trump Media & Technology Group and Crypto.com to launch a series of exchange-traded products, has officially filed a Form S-1 with the US SEC for its spot Bitcoin ETF, the Truth Social Bitcoin ETF.
The registration statement, submitted on June 5, follows NYSE Arca’s filing of a Form 19b-4 earlier this week, seeking SEC approval for a rule change to list and trade shares of the fund.
The S-1 is filed by the issuer, here Yorkville, to register the ETF’s shares. It includes detailed information about the fund’s structure, strategy, and risk disclosures, and the 19b-4 is filed by the exchange to request a rule change that allows the fund to be listed and traded.
Form S-1 and Form 19b-4 serve different purposes, but both need SEC approval before any spot Bitcoin ETF can go live in the US.
Like previous Bitcoin ETF filings from major asset managers, the ticker symbol for the Truth Social Bitcoin ETF has not been disclosed in the initial Form S-1, nor has the sponsor fee.
However, Bloomberg ETF analyst Eric Balchunas flagged an unusual and “surreal” detail in the fund’s risk section — a direct reference to the launch of the SEC’s Crypto Task Force and President Trump’s executive order to establish a Strategic Bitcoin Reserve.
According to Balchunas, this may be the first time a sitting US president has been explicitly mentioned in the risk disclosures of an ETF filing.
Under the risk section, there’s one for “regulatory uncertainty/headwinds” which includes how President Trump launched crypto task force and bitcoin strategic reserve. Pretty sure the first time ever the advisor is in the risk section.. it’s all so surreal pic.twitter.com/YaiMV96F9v
— Eric Balchunas (@EricBalchunas) June 5, 2025
Foris DAX Trust Company, operating as Crypto.com Custody Trust Company, has been designated as the custodian for the Truth Social Bitcoin ETF. The firm will also serve in the same role for Canary Capital’s Staked CRO ETF, which was registered last month.
The Bitcoin ETF filing comes amid controversy surrounding a Trump-branded crypto wallet recently introduced by the team behind the president’s official meme coin and the NFT marketplace Magic Eden.
The product, which uses the Trump name and branding, has been publicly disavowed by Trump’s sons. Eric Trump has stated that he intends to pursue legal action against the unauthorized crypto wallet claiming to be the “Official $TRUMP Wallet.”
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