Trump-Backed Truth Social Ventures into Bitcoin ETF Space with Yorkville Digital Partnership
In a significant move towards institutionalizing Bitcoin exposure, NYSE Arca has filed with the SEC to launch the 'Truth Social Bitcoin ETF,' proposed by Truth Social, the social media platform backed by former President Donald Trump. The filing, submitted on behalf of crypto asset manager Yorkville America Digital, marks a pivotal step in bridging the gap between traditional finance and digital assets. As of June 4, 2025, Bitcoin's price stands at 105,271.60 USDT, reflecting the growing interest and potential of cryptocurrencies in mainstream financial markets. This development underscores the increasing acceptance of Bitcoin as a legitimate asset class, further bolstered by high-profile endorsements and strategic partnerships.
Trump-Backed Truth Social Files for Bitcoin ETF in Partnership with Yorkville Digital
NYSE Arca has filed with the SEC to launch a bitcoin ETF proposed by Truth Social, the social media platform backed by former President Donald Trump. The filing, submitted on behalf of crypto asset manager Yorkville America Digital, marks a significant step toward institutionalizing Bitcoin exposure through traditional financial instruments.
The proposed 'Truth Social Bitcoin ETF' WOULD custody assets with Foris DAX Trust Company, which also handles Crypto.com's holdings. Regulatory approval hinges on both the 19b-4 form for product listing and forthcoming S-1 registration detailing the fund's structure and Bitcoin tracking methodology.
This MOVE signals growing political acceptance of cryptocurrency, with Trump-affiliated entities now actively participating in digital asset markets. The ETF's branding leverages Truth Social's partisan appeal while introducing Bitcoin exposure to mainstream investors through regulated channels.
US Debt Crisis Could Elevate Bitcoin as Global Reserve Currency: Coinbase CEO Warns
Coinbase CEO Brian Armstrong has issued a stark warning about the $37 trillion U.S. debt crisis, suggesting Bitcoin could supplant the dollar as the world's reserve currency if Congress fails to act. "I love Bitcoin, but a strong America is also super important for the world," Armstrong tweeted, emphasizing the need for fiscal discipline.
The debt debate intensifies as House Republicans pass a controversial Trump-backed bill extending tax cuts and military spending while slashing social programs. Six Nobel economists caution the move may exacerbate inequality and debt—a sentiment echoed by Elon Musk, who derided the legislation as a "disgusting abomination."
Amid fiscal uncertainty, Bitcoin's fixed supply and inflation-resistant design are drawing institutional and governmental interest. States like New Hampshire and Arizona have begun stockpiling BTC, signaling a erosion of confidence in traditional monetary systems.
Bitcoin Consolidates Near $105K Amid Profit-Taking and ETF Outflows
Bitcoin's rally has paused NEAR the $105,500 level after retreating from its record high of $111,814 set on May 22. The slowdown reflects a wave of profit-taking, with on-chain data revealing intense selling pressure as traders lock in gains.
Glassnode reports three separate hourly spikes in entity-adjusted realized profits exceeding $500 million within a 24-hour window - a rare occurrence signaling significant capital rotation. The average Bitcoin holder currently sits on 16% unrealized gains, with fewer than 8% of historical trading days proving more profitable for investors.
This profit-taking coincides with outflows from Bitcoin ETFs, creating headwinds for further price appreciation in the near term. The market appears to be digesting its recent parabolic advance, with technical indicators showing signs of exhaustion following the 2025 bull run.
Unexpected Bitcoin Price Support Spotted, Price At Make or Break Level?
Bitcoin's resilience at the $96,700 support level signals potential buyer confidence, with short-term holders anchoring the price. This level, representing the average entry point for investors who bought within the last 155 days, has historically acted as a bullish indicator when maintained.
Long-term holders are subtly reshaping the market, with 3–5 year investors reducing their supply from 15.7% to 11.9%. While this creates mild selling pressure, the overall stability suggests a calculated redistribution rather than panic selling.
The next critical threshold lies at $104,600—a breakout could propel Bitcoin toward $120,000 in the near term. Current price action around $105,000 reflects a market poised for directional resolution, with on-chain data and holder behavior painting a cautiously optimistic picture.
Spanish Coffee Chain Vanadi Coffee Plans $1.1B Bitcoin Investment
Vanadi Coffee, a prominent Spanish coffee chain, is making a bold pivot toward digital assets with plans to invest $1.1 billion in Bitcoin. Chairman Salvador Martí, drawing inspiration from MicroStrategy's strategy, intends to fund the move through a stock issuance pending board approval.
The shift marks a radical transformation for the traditional coffee business, embracing Bitcoin as a core asset. Martí's vision aligns with growing corporate interest in cryptocurrency as a treasury reserve, signaling broader institutional adoption.
