Truth Social Bitcoin ETF? Trump Media’s Latest Crypto Move Ignites Retail Trader Interest

Trump Media & Technology Group Corp. (DJT), which announced its intention to launch thematic investment products in early February, could be gearing up to launch its first Bitcoin (BTC.X) exchange-traded fund (ETF).

A regulatory filing by the New York Stock Exchange (NYSE) showed that the exchange plans to list and trade Truth Social Bitcoin ETF shares. The filing identified Florida-based Yorkville America Digital as the trust sponsor and Foris DAX Trust Company LLC as the custodian.

Foris DAX is an affiliated entity of Crypto.com. In late March, Trump Media & Technology Group (TMTG) confirmed an agreement with Crypto.com to launch a series of ETFs under the Truth.Fi brand.

Trump Media & Technology Group (TMTG) is majority owned by President Donald Trump, but the filing does not mention the president’s name. Nor did it contain the ticker of the proposed ETF or its fees.

Last week, TMTG said it raised $2.5 billion through a substantial private placement, adding that the proceeds will be used to set up a Bitcoin treasury. 

According to a Bloomberg report, Trump's planned Bitcoin ETF launch will be seen as a big endorsement of the apex crypto. Citing its ETF analyst, Eric Balchunas, Bloomberg said the filing could be routine in a crowded category that currently boasts more than 60 U.S. offerings.

Balchunas said, “It will have its work cut out to attract flows and liquidity.”

On Stocktwits, retail sentiment toward TMTG stock was ‘bearish’ (33/100) by late Tuesday,’ although the message volume was high. The 24-message volume change was about 70%.

A bullish user said the stock could see a short-squeeze rally toward the $75 level on the news.

Another said TMTG could be the next Strategy (MSTR), urging fellow retailers to “buy now or cry later.”

TMTG stock rose 0.50% to $21.95 in Tuesday’s after-hours session, while it is down 36% this year.

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