Trump-Linked Truth Social Withdraws Spot Bitcoin ETF Filing – bloomingbit
Summary
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Truth Social, the social media platform linked to US President Donald Trump, has withdrawn its filing for a spot Bitcoin exchange-traded fund.
Bloomberg ETF analyst James Seyffart wrote on X on May 19 that Truth Social had pulled the application.
Seyffart said intensifying competition in the spot Bitcoin ETF market may have been a factor. He specifically cited Morgan Stanley's MSBT, which entered the market with a low fee of about 0.14%.
He added that Truth Social could instead shift toward a crypto ETF product structured under the Investment Company Act of 1940, which offers greater flexibility.
Suehyeon Lee
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