Truth Social’s crypto ETF push has been halted after Yorkville America Digital withdrew several SEC filings linked to Trump Media & Technology Group. The withdrawn applications covered a proposed Bitcoin ETF, a Bitcoin and Ethereum ETF, and a Crypto Blue Chip ETF, all pulled before the SEC issued final decisions.
The products had been filed under the Securities Act of 1933, a framework commonly used for spot commodity-based ETFs. Yorkville said the move is part of a broader product restructuring and that future efforts will center on funds organized under the Investment Company Act of 1940. The firm said this format is better suited to rules-based investment products and comes with different disclosure and oversight standards.
Applications were withdrawn before SEC rulings
The filings included a proposed spot Bitcoin ETF and a combined Bitcoin-Ethereum ETF, both designed to give investors direct exposure to digital assets through regulated exchange-traded vehicles. The SEC had already delayed decisions on the filings under its normal review process for crypto investment products.
Yorkville requested the withdrawals before that review was completed. President Steve Neamtz said the company is still developing new investment strategies despite the change in direction. At the same time, Yorkville did not confirm whether replacement crypto ETF filings will be submitted under the revised structure.
Competition intensified as ETF demand cooled
The withdrawal comes during a crowded period for crypto exchange-traded products in the U.S. Since January 2024, firms including BlackRock, Fidelity Investments, and Grayscale Investments have brought in billions of dollars through spot Bitcoin ETFs. Reports citing SoSoValue data said U.S. spot Bitcoin ETFs have accumulated tens of billions of dollars in net inflows since launch.
That trend weakened in 2026. For the week ending May 15, U.S. spot Bitcoin ETFs recorded $1 billion in net outflows, while spot Ethereum ETFs saw more than $255 million in weekly outflows. Bloomberg ETF analyst James Seyffart said competition likely affected Yorkville’s decision, noting that newer issuers face firms with lower fees, stronger institutional ties, and established distribution networks.
Truth Social-branded fund platform remains in focus
Yorkville said its new direction centers on funds structured under the 1940 Act, a framework that already governs several Truth Social-branded investment products listed on the NYSE. The company added that it still plans to expand the broader Truth Social Funds platform.
The withdrawals also drew attention because of Trump Media’s connection to U.S. President Donald Trump. Trump Media had previously partnered with Crypto.com and Yorkville America Digital on investment products tied to the Truth.Fi brand.