Trump’s Truth Social Ventures into Crypto with Bitcoin ETF Filing, DJT Stock Rises

In a significant move signaling former President Donald Trump's deepening engagement with the cryptocurrency sector, Truth Social—the social media platform under Trump Media & Technology Group (NASDAQ: DJT)—has filed for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). The filing, submitted by NYSE Arca on June 3, 2025, designates Yorkville America Digital as the sponsor and Foris DAX Trust Company LLC as the custodian. While key details such as the management fee and ticker symbol remain undisclosed, this development has already positively impacted DJT stock, reflecting growing investor optimism. The filing underscores the increasing convergence of traditional finance and digital assets, with Trump's brand lending further legitimacy to the crypto space. Analysts suggest this could accelerate institutional adoption of Bitcoin, particularly among conservative-leaning investors. The timing aligns with a broader resurgence in crypto markets, as Bitcoin continues to demonstrate resilience amid macroeconomic uncertainty. Market watchers will closely monitor the SEC's response, as approval could open new avenues for mainstream Bitcoin investment through regulated channels.

Trump's Truth Social Files for Bitcoin ETF, DJT Stock Gains

Truth Social, the social media platform owned by Trump Media & Technology Group (NASDAQ: DJT), has filed for a spot Bitcoin ETF with the U.S. SEC. The filing, submitted by NYSE Arca on June 3, lists Yorkville America Digital as the sponsor and Foris DAX Trust Company LLC as the custodian. While details like the management fee and ticker remain undisclosed, the move signals Trump's growing involvement in the crypto space.

The proposed ETF will track Bitcoin's price, offering investors a streamlined way to gain exposure to the asset. This development follows the success of other spot bitcoin ETFs, such as BlackRock's IBIT, which have seen significant inflows. DJT stock closed 2.10% higher at $21.84 on the news, with further gains anticipated.

Bitcoin Profit-Taking Surges Amid Bullish Golden Cross Signal

Bitcoin holders are capitalizing on record highs as profit-taking activity intensifies. On-chain data from Glassnode reveals adjusted realized profit exceeded $500 million per hour three times in the past 24 hours—marking the most aggressive sell-off since February. The frenzy follows Bitcoin's 50-day SMA crossing above its 200-day counterpart on May 22, a technical 'golden cross' last seen before the asset rallied to an all-time high above $111,000.

Market dynamics reflect a clash between short-term profit seekers and long-term believers. Glassnode's blockchain tracking shows coins moving at unprecedented rates during price peaks, with sellers locking in gains from previous accumulation cycles. Meanwhile, the golden cross formation continues to attract institutional interest, suggesting sustained upward pressure despite retail sell-offs.

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. The move, inspired by MicroStrategy's aggressive accumulation strategy, signals a transformative shift for the traditional business.

Chairman Salvador Martí aims to fund the Bitcoin purchase through a stock issuance, pending board approval. This strategic allocation positions Vanadi Coffee as a "Bitcoin-first" company, bridging its established retail operations with the emerging digital economy.

California Assembly Passes Bill to Accept Bitcoin Payments

California moved closer to adopting cryptocurrency for state transactions as Assembly Bill 1180 (AB 1180) cleared the State Assembly with a unanimous 68-0 vote. The bill now heads to the Senate for further consideration.

If enacted, AB 1180 would authorize state agencies to accept digital assets like Bitcoin for payments under the Digital Financial Assets Law (DFAL), with an effective date of July 1, 2026. The legislation mandates the Department of Financial Protection and Innovation (DFPI) to establish crypto payment guidelines and run a pilot program through January 2031.

The bill complements AB 1052, the so-called "Bitcoin rights" legislation protecting self-custody and private crypto transactions from government overreach. AB 1052 advanced through committee with an 11-0 vote in May.

California already hosts 117 Bitcoin-accepting merchants, signaling growing crypto adoption in the nation's largest state economy.

Blockchain Group’s Massive Bitcoin Bet Reaches $150M Holdings

Blockchain Group has significantly expanded its Bitcoin portfolio with a $68.6 million purchase of 624 BTC, bringing its total holdings to 1,437 BTC valued at approximately $150 million. The acquisition, funded through a $63 million convertible bond from Fulgur Ventures and a $10 million capital raise, marks the firm's largest single investment since initiating its accumulation strategy in November 2024.

Positioning itself as Europe's first Bitcoin treasury firm, Blockchain Group underscores the growing institutional embrace of digital assets. The company's custody solutions are managed in collaboration with Banque Delubac & Cie, Swissquote Bank Europe, and Swiss firm Taurus, reflecting a robust institutional framework for cryptocurrency holdings.

The firm's year-to-date Bitcoin yield stands at an impressive 1,097.6%, highlighting the strategic value of its aggressive accumulation approach. This MOVE aligns with broader market trends of institutional investors anchoring long-term positions in Bitcoin as a treasury reserve asset.

Bitcoin Faces Volatility as Market Indicators Flash Warning Signs

Bitcoin's unrealized profits have surged past the +2 standard deviation threshold, a historical precursor to market euphoria and subsequent corrections. Glassnode data reveals three spikes in realized profits exceeding $500 million per hour within 48 hours, signaling aggressive profit-taking by large holders.

Wall Street veteran Tom Lee projects a near-term rally to $150,000-$250,000 by year-end, with long-term targets of $1.2-3 million. The cryptocurrency currently tests resistance at $106,265 while maintaining support above $105,000. With 95% of Bitcoin already mined but 95% global non-adoption, the supply-demand imbalance grows increasingly pronounced.