Trump Media Ventures into Crypto with Truth Social Bitcoin ETF Filing

In a bold move signaling further integration of cryptocurrency into mainstream finance, Trump Media & Technology Group has filed Form S-1 with the SEC to launch the Truth Social Bitcoin ETF. This spot Bitcoin ETF, planned for listing on NYSE Arca, represents a significant expansion of the Trump-affiliated company's footprint in the digital asset space. The filing comes alongside NYSE Arca's submission of Form 19b-4 for trading approval, completing the necessary regulatory steps to bring this innovative financial product to market. As of June 2025, this development underscores the growing institutional acceptance of Bitcoin and could potentially open new avenues for conservative-leaning investors to gain exposure to cryptocurrency through a familiar brand. The move follows increasing political acceptance of digital assets in the United States and may signal a strategic positioning by Trump Media to capitalize on the convergence of social media, politics, and decentralized finance.

Bold Bet: Trump Media Files S-1 to Launch Truth Social Bitcoin ETF

Trump Media & Technology Group has taken a significant step into the digital asset space by filing Form S-1 with the SEC for a Bitcoin exchange-traded fund. The Truth Social Bitcoin ETF aims to hold spot Bitcoin and list on NYSE Arca, marking the latest foray by the Trump-affiliated company into cryptocurrency.

The filing follows NYSE Arca's submission of Form 19b-4 for trading approval, completing the dual-application process required for a new spot bitcoin ETF. Florida-based Yorkville America Digital is named as the fund's sponsor, responsible for investment decisions and operations under the Investment Company Act.

Regulatory risks feature prominently in the application, particularly regarding potential policy shifts stemming from Trump's executive orders on cryptocurrency. The filing specifically references the creation of a Strategic Bitcoin Reserve and the SEC's crypto task force as factors that could impact the fund's operations.

Mark Cuban's Reflections on Bitcoin's Price Obsession

Mark Cuban once famously declared Bitcoin to be in a bubble during its 2017 rally, a period when the cryptocurrency surged from $250 to $2,800 before peaking six months later. His skepticism highlighted a broader tension: Bitcoin's idealistic vision as a pure medium of exchange clashes with its reality as a speculative asset.

The need for price reference points undermines Bitcoin's aspirational role as a payment system or store of value. Cuban's critique resonates today as market participants remain fixated on exchange rates—the very mechanism that distracts from Bitcoin's original purpose yet fuels its adoption through profit motives.

Trump Advisor Bo Hines’ El Salvador Visit Hints at U.S. Strategic Bitcoin Ambitions

Bo Hines, executive director of the WHITE House’s Presidential Council of Advisers for Digital Assets, met with Salvadoran President Nayib Bukele this week, signaling potential deeper U.S. engagement with El Salvador’s crypto leadership. Discussions focused on digital asset development and modernizing global finance, with Hines praising El Salvador’s Bitcoin policy as transformative.

Stacy Herbert of El Salvador’s Bitcoin Office highlighted the meeting’s significance, suggesting upcoming collaborations in bitcoin, stablecoins, and digital assets. The visit underscores Washington’s growing interest in El Salvador’s pioneering Bitcoin strategy as the TRUMP administration considers its own digital asset initiatives.

AlphaBay Linked to 300 Bitcoin Donation to Ross Ulbricht

A 300 BTC donation worth $31 million was sent to Ross Ulbricht, the imprisoned founder of Silk Road, from a wallet tied to AlphaBay—the darknet marketplace that succeeded Ulbricht's infamous platform. Chainalysis traced the funds, suggesting they originated from a high-profile vendor using laundering techniques.

The transaction revives the intertwined legacies of Silk Road and AlphaBay, two pillars of darknet commerce. AlphaBay operated from 2014 to 2017, surpassing Silk Road in scale and sophistication before its shutdown by law enforcement. The donation underscores Bitcoin's enduring role in the shadow economy, even as both platforms fade into history.

Strategy Upsizes STRD Preferred Stock Offering to $1 Billion for Bitcoin Purchases

Strategy, formerly known as MicroStrategy, has significantly expanded its STRD perpetual preferred stock offering from an initial $250 million to $1 billion. The public offering price has been set at $85.00 per share, with 11,764,700 shares of 10.00% Series A Perpetual Stride Preferred Stock now available. The net proceeds are estimated at approximately $979.7 million after accounting for underwriting discounts and expenses.

Chairman Michael Saylor confirmed the upsizing via an X post, emphasizing the company's continued commitment to Bitcoin acquisition. The offering is being managed by Barclays, Morgan Stanley, Moelis & Company, and TD Securities, with several other firms acting as co-managers.

Strategy's stock showed modest premarket gains of 0.85% to $375, recovering slightly from a 2.46% decline the previous day. The STRD preferred stock will feature non-cumulative dividends, further details of which remain undisclosed.

HIVE Digital Expands Mining Capacity to 10 EH/s, Targets 25 EH/s by 2025

HIVE Digital Technologies has surged past 10 exahash per second in mining capacity, marking a 58% monthly increase. The growth stems from its new 100-megawatt hydro-powered facility in Paraguay—a strategic MOVE reflecting the industry's broader shift toward renewable energy and next-generation ASIC deployment.

The company mined 139 Bitcoin in May, averaging 4.5 BTC daily, while maintaining fleet efficiency at 20 J/TH. With its network share now exceeding 1% of global Bitcoin mining power, HIVE aims to hit 18 EH/s this summer and 25 EH/s by 2025. CEO Aydin Kilic projects daily output surpassing 12 BTC by Q4, potentially at sub-$50,000 production costs.

Co-founder Frank Holmes highlighted HIVE's agility, noting its dual focus on Bitcoin mining and AI cloud infrastructure through the Buzz HPC division. The firm operates exclusively with hydroelectric power across facilities in Canada, Sweden, and Paraguay—reinforcing its commitment to sustainable mining practices since becoming the first publicly listed crypto miner on the TSX Venture Exchange in 2017.