Donald Trump’s social media platform Truth Social’s parent company, Trump Media & Technology Group (TMTG), has taken a concrete step toward the digital asset market. The company filed applications in Nevada for two cryptocurrency exchange-traded funds (ETFs) named “Truth Social Bitcoin ETF” and “Truth Social Ethereum ETF.” Subsequently, on June 5, 2025, these two ETFs were officially registered as “local business trusts.” This registration is considered one of the most fundamental steps required for the funds to operate within a legal framework. 

This move is part of TMTG’s strategy to integrate into the crypto market. The management of the ETFs is handled by Yorkville America Digital, which previously worked with TMTG. 

The main goal is to provide investors with direct access to Bitcoin and Ethereum, making entry into the crypto market easier. All these efforts support the company’s aim to develop digital financial products under the “Truth.Fi” brand. TMTG had previously filed trademarks for similar financial products. 

Trump Enters Crypto Market with Yorkville Partnership 

The partnership with Yorkville America Digital is notable. On June 3, 2025, Yorkville submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) for the listing of the Truth Social Bitcoin ETF on NYSE Arca. This filing proposes a rule change. The SEC must respond within 240 days. 

Additionally, Yorkville also submitted Form S-1, which includes all structural details of the ETF, to the SEC. Contrary to the usual filing order, the S-1 was submitted after Form 19b-4 in this process. Nevertheless, both filings are crucial parts of the regulatory process. 

However, SEC approval is mandatory for these steps to come into effect. U.S. laws require regulatory compliance for ETF products to be traded. At this point, the influence of the Trump family in the crypto market is also taken into account. Trump’s previous memecoin launches and crypto-friendly statements have sparked conflict-of-interest debates. 

In summary, TMTG’s Bitcoin and Ethereum ETF applications mark an important step for the company in the digital economy. Still, the products’ availability to investors will depend on regulatory approvals and market conditions. 

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SEC Filing Updated on March 6

The new filing, dated March 6, updates the original application submitted on January 31. It may have been revised to address SEC feedback or to include additional information.

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21Shares isn’t alone in its ambitions. Grayscale submitted its own Polkadot ETF application to the SEC via Nasdaq on February 25. These filings highlight a growing race among asset managers to secure crypto ETF approvals.

Meanwhile, DOT continues to trade around $4.50, maintaining a crucial support zone at $4. On the weekly chart, DOT appears to be forming a falling wedge pattern — a potential bullish reversal signal. A breakout above the $10 level would confirm the pattern and could trigger a strong rally. However, falling below $4 would invalidate the setup and may lead to a drop to $3.60.

Polkadot 2.0 Launch Adds Momentum

In addition to the ETF developments, investors are closely watching the anticipated Polkadot 2.0 upgrade, expected in Q1 of 2025. The upgrade aims to significantly boost the network’s scalability and developer experience. A testnet version is already available via the Kusama network.

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