Truth Social, the media company backed by former President Donald Trump, is taking a new step into the world of finance. The firm is looking to launch a Bitcoin exchange-traded fund (ETF), which would be listed on NYSE Arca, part of the New York Stock Exchange. The ETF is being proposed in partnership with Yorkville America Digital, a crypto asset manager.

The company filed the paperwork with the Securities and Exchange Commission on Tuesday. The filing was made by NYSE Arca on behalf of Truth Social and its partner. If the SEC approves the application, the fund will be called the Truth Social Bitcoin ETF. It would track the price of Bitcoin and be held by Foris DAX Trust Company.

Truth Social Proposes ETF To Offer Bitcoin Exposure Without Direct Ownership

Truth Social said the ETF would give investors a way to gain exposure to Bitcoin without needing to buy or store it directly. The company also submitted a separate S-1 form, which is required before any new fund can be sold to the public. That form gives the SEC more detailed information about the fund and how it will operate.

According to the update, the S-1 includes details about the fund’s structure, how it will follow the price of Bitcoin, and who will manage it. The SEC reviews these filings to check that they’re clear and fair for investors. The firm said this new product is part of its effort to expand beyond social media.

The SEC began approving Bitcoin ETFs early last year, after a long period of delays. Since then, 11 different Bitcoin funds have launched in the U.S., including some from large names like BlackRock and Fidelity. The firm said it believes this is the right time to join the space.

Truth Social Eyes Growth In The Crypto Market With Investment Product Trademarks

Truth Social’s interest in crypto has been building for some time. Earlier this year, the company applied to trademark several investment products tied to Bitcoin and other digital assets. The firm said it sees strong growth in this market and wants to be part of it.

Yorkville America Digital, the crypto partner on the filing, has worked on other digital asset products before. The company said teaming up with Truth Social adds a new kind of visibility. By connecting with a well-known media brand, the fund may draw attention from a wide range of investors.

Other companies are also racing to offer crypto-related ETFs. After the SEC approved Ether ETFs, new filings have come in for funds based on Solana, XRP, and even Dogecoin. The firm said the interest in crypto ETFs is still growing, and the market is far from settled.

Foris DAX Trust Company, the planned custodian of the ETF, is already involved with Crypto.com and other platforms. Truth Social said Foris was chosen because of its experience handling digital assets safely and at scale. That role is critical when it comes to investor confidence.

The SEC has not said when it will decide on the filing. It often takes weeks or months for regulators to approve new financial products. If the ETF gets the green light, Truth Social could become one of the first media companies to step into crypto investing at this level.