Truth social withdraws bitcoin etf filing amid fee pressure

May 20, 2026

Trump Media & Technology Group has withdrawn its plans for Truth Social-branded spot bitcoin and bitcoin-and-ether ETFs. The move came after the firm pulled its registration statements with the U.S. Securities and Exchange Commission on May 19.

Yorkville America, the issuer behind the Truth Social funds, described the withdrawal as a strategic shift toward products structured under the Investment Company Act of 1940. Officials said the change would allow more flexible strategies with broader distribution and added investor protections.

What people are saying

Discussions on X reveal mixed sentiments on Truth Social's Bitcoin ETF withdrawal, with some viewing it as bullish market maturation against low-fee giants like BlackRock, others calling it a bearish setback or vanity project failure, and neutrals noting pivots or regulatory context.

Truth Social just pulled their Bitcoin ETF filing and people are acting like the sky is falling. Relax.

When BlackRock, Fidelity and Morgan Stanley are charging fees as low as 0.14%, a branded political product was never going to survive. This isn’t bearish for Bitcoin, this is…

— Tammy-Lynn • Wellness • Crypto (@TammyLynnMcNabb) May 20, 2026

🩸 BEARISH

Trump Media's Bitcoin ETF Plans Collapse Under Fee War and Weak Demand!

Trump Media just pulled its SEC filings for two bitcoin ETFs 📉 — and analysts say the reason is simple: spot BTC ETF fees have collapsed to 14bp (Morgan Stanley), the market has 13+ competing…

— Zipp 👀 (@zippfeed) May 20, 2026

BREAKING: Trump's Truth Social just pulled ALL THREE of its crypto ETF filings from the SEC.

Everyone thinks this is bearish.

It's the most bullish signal the Bitcoin ETF market has produced in months.

Let me break it down.

— Marc Baumann 🌔 (@marcb_xyz) May 20, 2026

Looks like Trump decided to drop out of the spot crypto ETF race — milking everyone with his name and massive fees didn't pan out🤣

His media company (Truth Social) and the Yorkville America fund have officially withdrawn SEC applications for three funds at once: Bitcoin,… pic.twitter.com/XtxAe0GkRE

— Tamamonomoe π² (@tamamonomoe) May 20, 2026

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-Truth Social withdraws $BTC ETF filing
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— Wendy O (@CryptoWendyO) May 20, 2026

Sources

• https://www.coindesk.com/markets/2026/05/20/why-trump-s-bitcoin-etf-plans-likely-collapsed-before-even-getting-off-the-ground
• https://cryptoslate.com/truth-social-spot-bitcoin-etf-fee-war/
• https://cointelegraph.com/news/trump-backed-truth-social-pulls-bids-for-crypto-etfs