Trump Media and Technology Group (TMTG) has filed its first amended registration statement with the Securities and Exchange Commission (SEC) for the Truth Social Bitcoin ETF, advancing plans to enter the fast-growing spot Bitcoin ETF market.

The ETF, to be listed on NYSE Arca under the ticker B.T., will hold Bitcoin (BTC) directly and seek to track the flagship crypto’s market price. Crypto.com will act as the exclusive custodian, prime execution agent, and liquidity provider, while Yorkville America Digital will serve as the ETF’s sponsor.

The ETF’s structure allocates 70% of its assets to Bitcoin, with 15% in U.S. Treasury securities and 15% in cash or cash equivalents, aiming to balance exposure to the crypto with traditional financial instruments.

The launch remains subject to SEC approval of both the updated Form S-1 registration and a separate Form 19b-4 listing application. The company has not provided a specific launch date but indicated it expects the fund to go live before year-end.

TMTG, parent of the Truth Social social platform, streaming service Truth+, and fintech brand Truth.Fi, said the ETF forms part of a broader Bitcoin-focused strategy.

The strategy includes building a corporate Bitcoin treasury and expanding into digital asset products through its financial services division. The company has already committed substantial capital to Bitcoin acquisitions this year, positioning itself among the more aggressive corporate entrants into the sector.

If approved, the Truth Social Bitcoin ETF would enter a competitive landscape dominated by heavyweight issuers such as BlackRock, whose spot Bitcoin ETF has drawn billions in inflows since the first U.S. approvals in January and set multiple records.

The ETFs have attracted a mix of institutional and retail investors seeking regulated exposure to Bitcoin without the need for self-custody.

The filing also highlights the political dimension of TMTG’s crypto ambitions. President Donald Trump, the company’s majority shareholder, has made digital assets a policy priority, pledging to roll back what he calls restrictive regulations and promote U.S. leadership in the crypto economy.

A spot Bitcoin ETF tied to a political brand of Trump’s profile would be unprecedented in the market, potentially attracting a distinct investor base but also intensifying public and regulatory scrutiny.

The timing of the filing reflects an environment where spot Bitcoin ETFs are gaining mainstream acceptance and competitive differentiation is becoming critical. While the SEC has approved multiple products this year, new entrants face the challenge of building liquidity and investor trust in a market already served by established issuers.

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Bloomberg analysts have sharply increased the likelihood of U.S. regulators approving a new wave of cryptocurrency exchange-traded funds, pointing to a friendlier stance from the Securities and Exchange Commission (SEC).

Bloomberg senior ETF analysts Eric Balchunas and James Seyffart said on June 20 that they now see a “90% or higher” chance that a broad range of crypto ETFs will win regulatory approval.

Altcoin funds

The revised forecast follows what the pair described as constructive discussions between the SEC and asset managers seeking to expand beyond Bitcoin.

They also indicated that the SEC likely considers cryptocurrencies such as Litecoin, Solana, XRP, Dogecoin, and Cardano to be commodities, a classification that generally places them outside the commission’s direct oversight as securities.

The surge in optimism comes after the SEC recently asked several issuers pursuing spot Solana ETFs to update their filings with clearer details on in-kind redemptions and whether staking would be allowed.

The move prompted some firms that had yet to file applications for Solana ETFs to fast-track their submissions last week.

The requested changes, submitted in mid-June, signal that the SEC is actively reviewing the structure and mechanics of these funds, further supporting expectations of eventual approval. The regulator intends to respond within 30 days, raising expectations of approval within the next four to five weeks.

ETF performance

Crypto ETFs are expected to become a mainstay of the financial industry after spot Bitcoin ETFs set records for capital inflows.

BlackRock’s iShares Bitcoin Trust, trading under the ticker IBIT, surpassed $70 billion in assets earlier this month, less than a year after its launch. The product’s consistent daily inflows have made it one of the fastest-growing ETFs in U.S. history.

Despite this, similar products tracking Ethereum have faced slower uptake. While Ether ETFs launched last July, blockchain analytics show many investors remain at a loss compared to their entry price.

With momentum building, fund issuers including Franklin Templeton have filed proposals for ETFs tied to other crypto assets like XRP and Solana. These applications are now open for public feedback as the SEC weighs its next moves.

Though Balchunas and Seyffart expect approvals, they cautioned that final green lights and market debuts could still be several months away.

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