Hold onto your hats, folks—Trump’s Social Media Empire Now Wants a Piece of Bitcoin!
What to know:
- Apparently feeling a tad nostalgic for old Wall Street glory, NYSE Arca has decided to dip its toes into the crypto pond, filing paperwork with the SEC for a fund launched by none other than Trump’s media machinations.
- This new spectacle, dubbed the Truth Social Bitcoin ETF, aims to track the price of Bitcoin—because nothing screams stability like riding an electric, highly volatile, digital rollercoaster.
- Yorkville America Digital, trapped in an alliance with Trump Media, is the mastermind behind this endeavor, with Foris DAX Trust set to play custodian—probably just sitting there counting coins, if it gets the green light.
In a move no one asked for, NYSE Arca—an arm of the New York Stock Exchange—has whined at the SEC to allow a new fund issued by the illustrious Trump Media & Technology Group, purveyors of Truth Social and lifelong amusement.
On Tuesday, they filed a hefty 19b-4 document, a quaint little charm offensive aimed at convincing the authorities that Bitcoin needs a government-approved rollercoaster ride—similar to those existing spot bitcoin ETFs that everyone pretends to understand.
This contraption is brought to you by Yorkville America Digital, a crypto asset manager happily partnered with Trump Media—because nothing says financial stability quite like mixing politics and pixelated fortunes.
If all goes according to plan (ha!), Foris DAX Trust Company will be the trustworthy custodian of this digital treasure chest—also serving Crypto.com, if you’re curious about who’s trustworthy enough for your digital gold.
A 19b-4 filing is merely the preliminary fancy footwork required for SROs to suggest rule changes, accompanied by the even sexier S-1 document to make the whole charade official. Because what could possibly go wrong?
And so, the fund trades under the dazzling name: Truth Social Bitcoin ETF. Because why not toss a dash of political brand onto your financial nightmare?
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2025-06-04 05:20