Illustration of Truth Social withdrawing Bitcoin ETF filing with SEC documents and Bitcoin symbols.
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Truth social withdraws bitcoin etf filing amid fee pressure

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Trump Media & Technology Group has withdrawn its plans for Truth Social-branded spot bitcoin and bitcoin-and-ether ETFs.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.

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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.

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