The cryptocurrency empire of American president Donald Trump could become even greater, because the documents present plans for a negotiated Bitcoin (ETF) fund marked with his social media platform, Truth Social.
The NYSE Arca scholarship asked for the FNB Truth Social Bitcoin with the Securities and Exchange Commission on June 3 in the name of the asset director Crypto, Yorkville America Digital, partner of the owner of TRUTH Social, Trump Media & Technology Group.
Trump is the majority owner of Trump Media, but moved his shares in a trust controlled by his son, Donald Trump Jr., before returning to the White House.
The ETF seeks to register on the Arca Exchange nyse and follow the price of Bitcoin (BTC). The file has not disclosed management or ticker costs, but registered Foris Dax Trust Company, the Crypto.com active guard, as a proposed goalkeeper.
If it is approved, the FNB linked to Trump between a bitcoin market on Bitcoin of 11 similar funds dominated by the FNB Ishares Bitcoin Trust of BlackRock (IBIT) with nearly $ 69 billion in management.
This could also add to Trump’s controversial links with the crypto, which, according to criticism, is a conflict of interest with its presidential functions and accused Trump of having taken advantage of the presidency.
Trump and his family have links with an increasing number of crypto projects, which include several collections of non-fascinable tokens (NFT), two same, a stablecoin, a cryptographic mining company and a cryptographic platform with an associated token.
The ETF file comes after Trump Media signed an agreement in April with Yorkville America Digital and Crypto.com to launch a series of FNB Crypto “Made in America”.
The 19B-4 deposit of the Truth Social FNB Bitcoin effectively initiates the process of examining the dry, and it must decide to accept, reject or delay the request within 45 days. He can delay his decision several times, for a maximum examination period of 240 days.
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The dry must decide the request by January 29, 2026, at the latest.
Yorkville will also have to file an S-1 registration declaration for ETF, which informs the dry what the fund plans to offer, how it will work, how it intends to use any product raised by investors and associated risks.
Trump Media also asked for an “Bitcoin Plus truth” in February, which could receive part of the $ 250 million allocated to its Fintech, Truth.fi platform.
Trump Media wants to integrate crypto into the video streaming site
Trump Media also seeks to integrate a crypto token and a wallet on his video streaming site, Truth +, CEO of the company, Devin Nunes, told shareholders on April 29.
“We explore the introduction of a utility token in a Truth digital portfolio which can initially be used to pay the costs of truth + subscription, then be applied to other products and services in the truth ecosphere.”
Trump Media reported plans for the first time for a potential crypto paying adventure last November when he filed a brand request from the American patent and brands office to build a portfolio of digital assets and allow the cryptographic payments to truth.
Review: Trump crypto companies raise conflicts of interest, initiate negotiation issues
