Trump Media Inches Toward Truth Social Bitcoin ETF Launch—SEC Filing Signals Green Light
Another day, another crypto ETF filing—but this one’s got political fireworks. Trump Media’s Truth Social just lobbed its Bitcoin ETF application into the SEC’s bureaucratic jungle gym. Will regulators fast-track this one like a VIP Mar-a-Lago member? Doubtful.
Wall Street’s already salivating over the meme-stock-meets-crypto narrative. Because nothing says 'financial innovation' like mixing partisan branding with volatile digital assets. The filing’s light on details—typical for this stage—but heavy on symbolism. A Trump-backed ETF? That’ll either moon or crater faster than a 2020 election tweet.
Here’s the kicker: if approved, this ETF could turn Truth Social’s army of retail traders into Bitcoin’s newest bagholders. The SEC hasn’t blinked yet—but with election season heating up, expect maximum volatility. Just don’t bet your MAGA hat on a speedy approval.
Another Trump crypto project
Trump and his affiliated businesses have built a large portfolio of crypto projects—much to the chagrin of Democrat lawmakers.
His earliest crypto projects were NFT collections. In 2022, Trump debuted his first NFT collection. That was followed by two more collections in 2023, and another in August 2024 while he was campaigning for office.
Perhaps the best-known project has been the OFFICIAL TRUMP meme coin. It launched just days before the President's second inauguration. The president organized a crypto gala for the top holders of his meme coin, which drew protests. Registrants and attendees have since been airdropped “historic collector’s item” NFTs.
But before the president had even been re-elected, Trump was linked to the start of World Liberty Financial. The project has since introduced a WLFI governance token and USD1 stablecoin. The president’s sons, Eric and Donald Jr., have been more closely linked to the project than their father. As things stand, the Trump family holds a 60% ownership stake in World Liberty Financial through its company DT Marks DeFi LLC, according to Reuters.
Edited by James Rubin
