{"id":58095,"date":"2026-05-20T07:40:32","date_gmt":"2026-05-20T07:40:32","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=58095"},"modified":"2026-05-20T07:40:32","modified_gmt":"2026-05-20T07:40:32","slug":"trump-media-withdraws-bitcoin-etf-filing-for-truth-social","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/trump-media-withdraws-bitcoin-etf-filing-for-truth-social\/","title":{"rendered":"Trump Media Withdraws Bitcoin ETF Filing for Truth Social"},"content":{"rendered":"\n

Trump Media, linked to the Truth Social platform, recently requested the U.S. Securities and Exchange Commission (SEC)<\/strong> to withdraw its registration for a spot Bitcoin ETF<\/strong>. This decision halts what had been one of the more prominent efforts to establish a new Bitcoin fund in a market that is already saturated with options.<\/p>\n

The formal request, dated May 19, 2026, was sent to the SEC\u2019s Division of Corporation Finance and Office of Crypto Assets. The company sought the \u201cimmediate withdrawal\u201d of its Form S-1 registration statement, initially filed on June 5, 2025. Trump Media clarified that the registration had not been activated, and thus, \u201cno securities have been sold\u201d under its provisions.<\/p>\n

In the filing, Trump Media noted, \u201cThe Company has determined to withdraw the Registration Statement and not to pursue the public offering at this time. As the registration statement has not been declared effective, this withdrawal serves the public interest and investor protection in accordance with Rule 477(a).\u201d <\/p>\n

This filing concludes a near year-long regulatory journey that began when NYSE Arca submitted a Form 19b-4 to list the Truth Social Bitcoin ETF on June 3, 2025. The proposed ETF was designed to mimic Bitcoin\u2019s performance while minimizing the complications associated with direct ownership of the cryptocurrency. Reports indicated that Donald Trump was the majority owner of Trump Media & Technology Group, which oversees the Truth Social platform.<\/p>\n

The S-1 registration categorized the proposed ETF as a Nevada business trust, primarily holding Bitcoin managed by a custodian. Initially, Yorkville America Digital, LLC<\/strong> was named as the sponsor, and Foris DAX Trust Company, LLC<\/strong>, an affiliate of Crypto.com, was designated as the Bitcoin custodian. This trust was not registered under the 1940 Investment Company Act and was instead structured under the Securities Act of 1933, positioning it similarly to spot Bitcoin exchange-traded products (ETPs).<\/p>\n

In August 2025, Trump Media modified the filing, announcing that Crypto.com would serve as the exclusive Bitcoin custodian, execution agent, and liquidity provider. At that time, they acknowledged that the launch remained contingent on the effectiveness of the S-1 and SEC approval of the related 19b-4 filing, with shares planned for listing on NYSE Arca if successful.<\/p>\n

Reasons Behind the Withdrawal<\/h2>\n

Yorkville America framed the withdrawal as a strategic shift rather than a complete withdrawal from the ETF market. In a press release dated May 19, the firm indicated it had \u201cproactively withdrawn its registration statements filed under the Securities Act of 1933\u201d to concentrate on product development under the 1940 Act framework.<\/p>\n

Steve Neamtz, President of Yorkville America, stated, \u201cAfter careful consideration, the \u201940 Act structure allows us to introduce more innovative investment strategies for our investors, which are not feasible under the \u201933 Act framework. Our primary aim remains to deliver the best strategies through the most appropriate structures. This decision represents a commitment to providing high-quality investment products to our growing base of investors.\u201d <\/p>\n

However, some analysts expressed skepticism about this rationale. Bloomberg ETF analyst James Seyffart<\/strong> remarked on social media that the difference between a \u201933 Act product and a \u201940 Act ETF is well understood in the market. He suggested that competition in the spot Bitcoin ETF sphere was a more likely reason for the withdrawal, particularly given the launch of Morgan Stanley\u2019s MSBT at a fee of only 14 basis points.<\/p>\n

Seyffart commented, \u201cThey appear to be considering launching more flexible crypto-related ETF strategies within the 40 Act framework, which seems more viable in a competitive market. Perhaps we do not need another standard spot Bitcoin ETF.\u201d <\/p>\n

Bloomberg ETF analyst Eric Balchunas<\/strong> shared similar sentiments, noting that Yorkville\u2019s team may have advised Truth Media to either significantly reduce fees or rethink their strategy altogether, suggesting that high fees could deter investor interest.<\/p>\n

This pressure regarding management fees is significant. Morgan Stanley\u2019s proposed spot Bitcoin fund is set at just 14 basis points, competing with other products that typically charge between 15 to 25 basis points, including BlackRock\u2019s<\/strong> iShares Bitcoin Trust at 25 basis points.<\/p>\n

As of the latest report, Bitcoin\u2019s trading price stands at $77,274.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Trump Media, linked to the Truth Social platform, recently requested the U.S. Securities and Exchange Commission (SEC) to withdraw its registration for a spot Bitcoin ETF. This decision halts what had been one of the more prominent efforts to establish a new Bitcoin fund in a market that is already saturated with options. The formal […]<\/p>\n","protected":false},"author":14,"featured_media":58096,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Trump Media Withdraws Bitcoin ETF Filing for Truth Social - Bitrabo","description":"Trump Media, linked to the Truth Social platform, recently requested the U.S. Securities and Exchange Commission (SEC) to withdraw its registration for a spot B"},"footnotes":""},"categories":[316],"tags":[448,1923,842,15570,1706,2377,7837,3963],"class_list":["post-58095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-etf","tag-filing","tag-medias","tag-social","tag-trump","tag-truth","tag-withdraws"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/58095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=58095"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/58095\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/58096"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=58095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=58095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=58095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}