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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Indian crypto exchange WazirX has revealed the date for a creditor revote that, if passed, could pave the way for the long-awaited fund distribution.

WazirX Has Revealed The Creditor Revote Timeline

In a post on X, WazirX has shared an update on the situation regarding user crypto distribution. The exchange fell prey to an infamous hack one year ago, in which attackers linked with the North Korean Lazarus Group made away with almost $235 million in digital asset funds.

The platform closed its deposits and withdrawals in response to the attack, and to this day, it hasn’t been able to resume operations. This means that the rest of the original $500 million in user funds, around $265 million, are still stuck in limbo.

Recent developments, however, have finally set things in motion. In June, WazirX’s parent company, Zettai PTE LTD, a Singapore-based entity that was responsible for handling user crypto, went to the Singapore High Court with a distribution proposal that had overwhelming support from the creditors behind it.

This plan, however, had ended up finding rejection. Earlier this month, the company again went to court with a revised proposal, and this time, the court ended up giving it a green light. Alongside the announcement of the court hearing decision, WazirX had said another creditor vote will need to happen before the proposal can move forward.

Now, the exchange has formally announced a date for it: July 30th. This revote will remain live until August 6th. “If the requisite majority of creditors vote FOR the Scheme once again, the token distribution will start within 10 business days after the Scheme is effective, just as planned,” noted WazirX in the post.

This means that for the first time in this saga, users finally have a potential timeline for distribution. Alongside the distribution process, the exchange also plans to restart operations.

Nischal Shetty, CEO of WazirX, has also talked about the process in an X post. “A restart will also help us work towards generating profits and distributing it back to all creditors,” said Shetty.

The court had previously rejected the plan due to concerns about compliance with Singapore’s Financial Services and Markets Act (FSMA) and the involvement of Panama-based Zensui in the distribution process. The greenlight came as Zanmai Labs, the Indian company behind the exchange, was instead tasked with handling the funds.

It now remains to be seen whether creditors will vote in favor of the amended proposal, as they did for the last one, and potentially allow for an end to the long saga.

Bitcoin Has Seen A Sharp Profit-Taking Spree Recently

Bitcoin investors have participated in peak profit realization amounting to a whopping $3.3 billion recently, as CryptoQuant author Darkfrost has pointed out in an X post.

The trend in the 7-day MA of the Bitcoin Realized Profit | Source: @Darkfost_Coc on X

Since this selloff, Bitcoin has been locked in sideways movement, with its price still floating around the $118,300 mark today.

Looks like the price of the coin has been unable to find a direction | Source: BTCUSDT on TradingView

Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

South Korea’s top financial regulator is working on a detailed roadmap to support the launch of digital asset spot exchange-traded funds.

According to a June 19 report by Herald Economy, the Financial Services Commission revealed the move during a policy update to the State Affairs Planning Committee.

The FSC plans to roll out its proposal in the second half of the year. It will evaluate the implications of introducing crypto-based spot ETFs, including potential risks to financial stability, investor exposure, and the broader economy.

The agency also intends to build the necessary infrastructure for listing and managing such ETFs while ensuring investor safeguards.

This policy push aligns with campaign pledges made by President Lee Jae-myung, who previously advocated for allowing the issuance and trading of Bitcoin-based ETFs and similar investment products tied to digital assets.

Stablecoin oversight and fee structure under review

Beyond the ETF rollout, the FSC is advancing the second phase of its digital asset legislation.

This next step will focus on regulations for asset listings, disclosures, business practices, and crackdowns on unfair market activity.

A key part of the effort will be aligning stablecoin rules with international standards while protecting users and enhancing market transparency.

Notably, South Korean authorities are particularly concerned about the growing influence of US dollar-denominated stablecoins in the domestic market. Lee Chang-yong, the governor of the Bank of Korea, recently cautioned that won-pegged stablecoins could increase demand for the US dollar, raising macroeconomic risks.

Meanwhile, the FSC reportedly plans to launch a market-wide review of transaction fees charged by local crypto exchanges.

The review will initially target South Korea’s largest exchanges, including Upbit, Bithumb, and Coinone.

Key areas of interest include how these platforms’ fees are structured, whether they disclose this information transparently, and the extent of voluntary fee reductions.

South Korea’s latest regulatory steps reflect its intent to balance innovation with user protection as it reshapes its crypto market policy

The chief investment officer of investment firm Fundstrat says that President Donald Trump’s trade war is nearing its end as courts rule against the White House.

In a new video update on the Fundstrat Capital YouTube channel, Tom Lee says that court rulings against Trump’s tariffs suggest that the White House is losing leverage.

“In our view, the tariff war and concerns have a bark worse than the bite. Let me explain, for instance… on May 28th, the international trade court ruled against the Trump tariffs. Now it didn’t remove all of them, but it ruled against them and on Thursday, May 29th, the DC District Court Judge Contreras ruled that [the] tariffs are illegal.

So it’s two cases ruling against White House tariffs, but on the same day, the Federal Court of Appeals issued an administrative stay which reinstates the tariffs – at least through June 9th – but you can see this is getting quite complicated and the White House is insisting nothing has changed after the tariff rulings.

And in fact, Goldman Sachs highlights that there’s many measures the White House can take to implement or re-implement tariffs. But ultimately, the White House is losing leverage, and it’s taking us closer to the endgame.”

Lee also says that due to the rulings, Trump will struggle to revamp the trade war, and that the White House will be looking for an exit strategy on the matter soon.

Lee goes on to note that tariff visibility and other factors have led to a better investment outlook for stocks now compared to earlier this year.

“The investment outlook is better for stocks now arguably than it was in February 2025 because you’ve got tariff visibility, you have tax and deregulation visibility, [and] the companies survived [a] fifth major stress test… and the Fed is arguably more dovish next year.”

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Key takeaways:

• XRP’s falling wedge pattern signals a bullish reversal; 48% price surge potential.

• SEC’s review of WisdomTree’s XRP ETF may spark investor interest as approval odds jump to 84% on Polymarket. 

XRP price is forming a falling wedge pattern on the daily chart, a technical chart formation associated with strong bullish momentum following an upward breakout. Could this technical setup, coupled with the SEC’s review of a spot XRP ETF application by WisdomTree, signal the start of a rally to $3.40 and higher?

XRP falling wedge pattern targets $3.40

From a technical perspective, XRP (XRP) price could gain significant momentum if it breaks out of this falling wedge pattern.

In technical analysis, a falling wedge is a bullish reversal chart pattern that comprises two converging trend lines that connect lower highs and lower lows. This convergence indicates a weakening downward momentum. 

XRP price is currently retesting the resistance provided by the upper trendline of the wedge at $2.42. A break above this level will likely trigger a quick rise in price, with the bulls seeing the technical target of the wedge at $3.40, a 48% increase from current prices.

The relative strength index (RSI) has climbed to 47 from 31 on April 8, indicating that bullish momentum is building up.

However, to sustain the ongoing recovery, XRP’s price has to first hold the support at $2.20 and then overcome the resistance between $2.60 and $2.80.

Several analysts are optimistic about a rebound higher, with pseudonymous trader Cryptowzrd saying that a validation of a falling wedge could see XRP break out toward $2.90.

“$XRP closed indecisively and is still maintaining a falling wedge formation,” the trader wrote in a May 28 post on X, adding: 

“A breakout of this wedge will push markets toward the $2.80 resistance. Above that resistance, we will eventually get to a new all-time high.”

As Cointelegraph reported, XRP price must first break the key $2.48 resistance level to clear the path toward higher highs.

Spot XRP ETFs coming?

The US Securities and Exchange Commission (SEC) has officially started reviewing the spot exchange-traded fund (ETF) application by the WisdomTree XRP Trust, which may provide investors with exposure to XRP. 

NEW: The SEC is officially reviewing WisdomTree’s proposed spot $XRP ETF, and is now accepting public comments. pic.twitter.com/3B4UwJ6n4s

— Cointelegraph (@Cointelegraph) May 28, 2025

The notice published by the SEC on May 27 initiates a 21-day public comment period and a 240-day review timeline, reflecting a structured evaluation of investor protection and market manipulation risks. 

The product would track the price of XRP through the CME CF Ripple-Dollar Reference Rate, giving investors indirect exposure without needing to hold the asset directly.

The betting odds for an XRP ETF approval by Dec. 31 now stand at 84% on Polymarket. Over the past month, the probability of approval has swung by 21% in favor of the YES side, from around 63% on April 22.

Bloomberg senior ETF analysts predicted an 85% chance of spot XRP ETF approval after the change in leadership at the SEC.

Approval of these funds could unlock institutional capital, amplifying demand for XRP and potentially driving prices toward $3-$8. Some analysts predict XRP price to go as high as $50 if major players like BlackRock step in.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.