- Truth Social withdrew its Bitcoin ETF and Bitcoin & Ethereum ETF filings with the SEC.
- Yorkville America said it plans to pursue a different ETF strategy under the Investment Company Act of 1940.
- The original ETF registration statements were filed in June 2025.
Truth Social Withdraws Crypto ETF Applications
Truth Social, the social media platform operated by Trump Media & Technology Group, has filed to withdraw its applications for crypto exchange-traded funds.
The filing stated, “The Company has determined to withdraw the Registration Statement and not to pursue the public offering at this time.”
According to filings submitted to the U.S. Securities and Exchange Commission on Monday, the company requested the withdrawal of its Form S-1 registration statements for the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF. The filings were originally submitted in June 2025.
James Seyffart Notes ETF Filing Withdrawal
NEW: Trump’s Truth social has withdrawn their Bitcoin ETF filing pic.twitter.com/l3jEJ40cAz
— James Seyffart (@JSeyff) May 19, 2026
Bloomberg Research analyst James Seyffart also noted that Truth Social had withdrawn its Bitcoin ETF filing. The withdrawal applies to both the proposed Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF filings previously submitted to the SEC.
Yorkville America Plans Alternative ETF Structure
Yorkville America, the sponsor and investment advisor for the Truth Social funds, said the withdrawal was made to pursue a different ETF structure.
Steve Neamtz, president of Yorkville America, stated, “After careful evaluation, the ’40 Act structure allows us to bring more differentiated investment strategies to our investors that are not possible under the ’33 Act framework.”
The Securities Act of 1933 primarily regulates the initial offering and sale of securities to the public, while the Investment Company Act of 1940 governs the operations and structure of investment companies. Yorkville America said the Investment Company Act of 1940 framework provides structural advantages including investor protections, accessibility, tax efficiency, and transparency.
Recently, U.S. President Donald Trump signed an executive order directing the Federal Reserve to review policies governing fintech and crypto firms’ access to Fed payment rails. The order called for updated regulations to support digital assets and blockchain-based financial services within traditional payment systems. Trump also instructed the Federal Reserve to clarify authority over granting master accounts and evaluate possible access for qualified crypto firms. The Federal Reserve must submit a report to the president within 120 days.
FAQs
1. Why did Truth Social withdraw its Bitcoin ETF filings?
Truth Social withdrew its Bitcoin ETF and Bitcoin & Ethereum ETF filings to pursue a different ETF strategy under the Investment Company Act of 1940, according to Yorkville America.
2. Which ETF applications were withdrawn?
The withdrawn applications include the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF that were previously filed with the U.S. Securities and Exchange Commission.
3. What did Yorkville America say about the new ETF structure?
Yorkville America stated that the ’40 Act structure offers differentiated investment strategies along with investor protections, accessibility, tax efficiency, and transparency.
4. When were the Truth Social ETF registration statements originally filed?
The Form S-1 registration statements for the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF were originally filed in June 2025.
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