Truth Social Crypto ETF Exit Leaves Analysts Confused

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James Seyffart believes rising competition, including Morgan Stanley's low-fee MSBT product, likely influenced Truth Social's ETF withdrawal decision.

Truth Social’s planned push into cryptocurrency exchange-traded funds has suffered a setback after sponsor Yorkville America withdrew multiple applications tied to the social media company’s investment products.

Regulatory filings submitted to the US Securities and Exchange Commission (SEC) show the company pulled its registration statements for the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF, both originally filed in June 2025. The withdrawal also covers the proposed Truth Social Crypto Blue Chip ETF.

Trump Media’s ETF Push Stalls
Yorkville America said it withdrew its crypto ETF filings under the Securities Act of 1933 as part of a strategic decision toward launching investment products under the Investment Company Act of 1940. The advisor said the move followed an internal evaluation that found the ’40 Act framework better supports the differentiated and rules-based investment strategies it plans to develop for its investors.

According to Yorkville America President Steve Neamtz, the structure allows the company to offer investment strategies that are not possible under the ‘33 Act framework. He added,

“The ’40 Act framework – the regulatory structure under which the existing Truth Social Funds suite operates – provides enhanced investor protections, greater operational flexibility, and access to a broader range of institutional distribution channels.”


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