Trump Media & Technology Group (TMTG), the media organization founded by President Donald Trump, has registered for a Bitcoin Exchange-Traded Fund (ETF) through its social media platform, Truth Social. This move represents a significant shift in the cryptocurrency and financial markets. This action has not only upset the crypto community, but it has also caused TMTG’s stock, which trades under the ticker DJT, to rise significantly.
Filing for the Bitcoin ETF
On June 3, 2025, NYSE Arca submitted a Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) on behalf of TMTG, requesting permission to list the Truth Social Bitcoin ETF. Crypto Marketplace, The purpose of this ETF is to provide investors with instant access to Bitcoin’s price fluctuations, eliminating the burden of direct cryptocurrency ownership. The proposed fund aims to track the performance of Bitcoin. This is in response to the increased demand for spot Bitcoin ETFs following their initial approval in January 2024.
The filing states that TMTG is collaborating with Yorkville America Digital, a company that manages cryptocurrency assets, on this project. The proposed custodian for the ETF is Foris DAX Trust Company, which is recognized for its ties to Crypto.com.
How DJT stocks are doing
After the ETF application was announced, the market reacted positively to DJT shares. The stock closed at $21.84 on June 3, 2025, representing a 2.10% increase from the previous day. After-hours trading saw another 0.46% surge, indicating that investors are optimistic about the company’s entry into the cryptocurrency market.
TMTG’s bigger plan for cryptocurrencies
The ETF registration is part of TMTG’s broader plan to incorporate bitcoin into its business. The corporation announced in May 2025 that it aimed to raise $2.5 billion to establish a Bitcoin treasury reserve. This project aims to establish TMTG as a significant player in the cryptocurrency market, alongside companies such as MicroStrategy.
The funds for this Bitcoin reserve are derived from the sale of new ordinary shares and convertible debt. In particular, TMTG sold 55.86 million shares for $25.72 each and issued $1 billion in convertible debt at $34.72 per share. The goal of this capital infusion is to increase the company’s liquidity and provide stockholders with greater access to Bitcoin.
Political and moral issues to think about
People are concerned that President Trump’s involvement in the cryptocurrency industry, particularly through TMTG, may lead to conflicts of interest. Critics argue that Trump’s affiliation with TMTG could blur the distinction between his official responsibilities and his financial interests. He has given his shares in the company to a trust owned by his son, Donald Trump Jr.
Additionally, the government’s push for less regulation of cryptocurrencies has sparked discussions about the moral implications of these policies, particularly given the president’s indirect connections to crypto businesses. Some people argue that these actions make the U.S. a leader in digital finance, while others are concerned about self-dealing and foreign influence.
The Market and the Competition
Given that numerous spot Bitcoin ETFs have already received licenses since early 2024, the Truth Social Bitcoin ETF is entering a crowded market. BlackRock’s iShares Bitcoin Trust ETF (IBIT) stands out in this area with around $69 billion in assets under management.
TMTG’s ETF will only be successful if several key factors are met, including obtaining regulatory approval, gaining investor trust, and Bitcoin’s overall performance, which is currently trading at $105,000, up 12.7% this year.
Looking ahead: What will happen next?
If approved, the Truth Social Bitcoin ETF could significantly enhance TMTG’s reputation within the cryptocurrency industry. The company is also exploring the addition of a utility token to its video streaming platform, Truth+, allowing users to utilize digital assets for subscription payments and other services.
TMTG has also applied for a “Truth.Fi Bitcoin Plus ETF” and is considering creating a digital wallet to facilitate easier cryptocurrency payments across all its platforms. These steps demonstrate that the corporation is committed to integrating Bitcoin into its business operations and financial management.
Summary
The Truth About President Trump. The social filing for a Bitcoin ETF represents an important step in bringing together politicians, media, and the cryptocurrency industry. The move has generated considerable excitement among investors and crypto enthusiasts, but it also raises important questions about ethics and government oversight. The SEC is currently reviewing the ETF application, and the financial and political circles will closely monitor TMTG’s ambitious plans for cryptocurrency.
