Trump Media Bets Big on Bitcoin: Files SEC Form S-3 for $2.3B Crypto Treasury Play

In a move that'll either be hailed as visionary or ridiculed as reckless, Trump Media just threw its weight behind Bitcoin—hard. The company filed an SEC Form S-3 to lock in a staggering $2.3 billion treasury deal denominated in cryptocurrency. Wall Street analysts are already sharpening their knives.

Why This Matters: When mainstream players dive into crypto treasury reserves, it's no longer a niche experiment—it's an institutional arms race. Trump Media's filing signals either bold confidence in Bitcoin's store-of-value thesis or a desperate hedge against inflation (take your pick).

The Fine Print: The S-3 registration allows for flexible capital raises—meaning Trump Media could issue shares, warrants, or debt to fund this crypto gambit. Perfect timing, given Bitcoin's recent volatility and Washington's love-hate relationship with digital assets.

Bottom Line: Whether this becomes a case study in corporate treasury innovation or a cautionary tale depends entirely on Bitcoin's next price swing. Meanwhile, traditional finance guys are muttering about 'speculative excess' between sips of their $8 artisanal coffee.

Bitcoin Treasury Push: CEO Says Company Aims to Acquire “Crown Jewel Assets”

The fund will be used to acquire bitcoin and for general corporate purposes, an official release noted. However, the company has not disclosed how much Bitcoin it plans to purchase.

Additionally, the filing includes a universal shelf provision to offer flexibility for future initiatives like mergers and capital raising offerings.

TMTG CEO Devin Nunes said that the company is exploring all elements needed for its growth and plans, including acquiring “crown jewel assets.”

“These activities will provide the Company with the capital, assets, independence, flexibility, and security we need to fulfill our goals of rapid expansion, guaranteeing a wide array of ways to access the capital markets when it’s most advantageous to do so,” he said.

TMTG Bitcoin ETF Plans: Will it Be Anywhere Close to Existing Crypto ETFs?

TMTG, the media group behind Trump’s Truth Social, has already signed a deal with Crypto.com and Yorkville America Digital to launch a suite of exchange-traded funds under the Truth.Fi brand.

Trump Media has signed a deal with @cryptocom and Yorkville to launch a series of ETFs combining digital assets and U.S.-focused investments.#trump #etfhttps://t.co/pyvQqgC5Gz

The funds will combine exposure to digital assets with investments in U.S.-focused sectors such as energy, the company said in April.

If approved, the Truth Social Bitcoin ETF will have Crypto.com as its exclusive custodian and liquidity provider. The ETF WOULD join the increasing number of crypto-related products that are waiting to get approval from the regulator.

The new fund will carry exclusive clauses. The filing noted that one of the largest crypto exchanges, Crypto.com, will offer certain services to the trust behind the product.

The ETF’s launch comes as the price of Bitcoin has hit above $100,000 amid a wave of optimism. However, given that there is a flurry of spot Bitcoin funds, Truth Social ETF would only join a crowded field, trying to gain the trust of the institutional investment community.

“I think it’s extraordinarily unlikely that products like [Truth Social Bitcoin ETF] gain long-term assets,” Dave Nadig, an independent ETF expert, told the FT.