Yorkville America has pulled planned registration statements for three Truth Social crypto ETFs, pausing a closely watched part of Trump Media & Technology Group's digital-asset push. The withdrawn products were the Truth Social Bitcoin ETF, Truth Social Bitcoin and Ethereum ETF, and Truth Social Crypto Blue Chip ETF — all filed under the Securities Act of 1933.
Yorkville Refocuses on 1940 Act Product Platform
Yorkville President Steve Neamtz stated the firm is not stepping back but "stepping forward with a stronger product platform." The new direction centers on the Investment Company Act of 1940, which supports rules-based funds with broader access, regular disclosure, independent oversight, and potential tax efficiency. The framework already governs Yorkville's existing Truth Social Funds suite — five NYSE-listed ETFs focused on defense, security, energy, technology, major U.S. companies, and domestic real estate.
The move does not confirm a new crypto ETF under the 1940 Act. Instead, it signals a change in how Yorkville plans to build future Truth Social Funds products. The withdrawal reflects a strategic recalibration of compliance pathways for digital asset ETFs.
Crypto ETF Demand Softens in 2026
The filing pullback comes as crypto ETF demand has weakened compared to earlier inflow periods. Reporting from crypto.news noted that U.S. spot Bitcoin ETFs saw $1 billion in net outflows for the week ending May 15, ending a six-week inflow streak worth $3.4 billion. Ethereum ETFs posted $255.11 million in outflows during the same week.
This backdrop means new crypto funds now enter a more crowded market, with investors showing less steady demand than during the stronger spring inflow run. The cooling environment makes Yorkville's structural shift all the more noteworthy.
Trump Media's Crypto Push Under Financial Pressure
The ETF withdrawal follows weaker reported results at Trump Media. Separate coverage said the company posted a $405.9 million first-quarter net loss, with most of the loss tied to non-cash charges from unrealized losses on digital assets, pledged digital assets, and equity securities.
Despite the losses, Trump Media has kept digital assets within its wider business plan. Its annual filing said the Truth.Fi strategy may include exchange-traded products, Bitcoin, similar cryptocurrencies, and crypto-related securities. Earlier coverage also confirmed partnerships with Crypto.com and Yorkville America Digital for the Truth.Fi brand.
Yorkville's withdrawal narrows the near-term path for the proposed Truth Social crypto ETFs. The company's next filings will show whether it returns with different crypto exposure or keeps the Truth Social Funds platform focused on traditional 1940 Act strategies.