Illustration of Truth Social withdrawing Bitcoin ETF filing with SEC documents and Bitcoin symbols.
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Trump Media & Technology Group has withdrawn its plans for Truth Social-branded spot bitcoin and bitcoin-and-ether ETFs.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.

Watu wanasema nini

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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Illustration of Franklin Templeton filing for Bitcoin ETFs with the SEC
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Franklin Templeton files for Bitcoin dividend reinvestment ETFs

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Franklin Templeton filed paperwork with the US Securities and Exchange Commission on June 18 to launch two exchange-traded funds that would hold US stocks and automatically reinvest dividends into Bitcoin exposure.

Trump Media plans to introduce a paid API that provides Wall Street firms with fast access to influential posts on Truth Social. The move aims to monetize content from the platform that can move markets.

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Trump Media announced a new data feed that will deliver President Donald Trump's Truth Social posts to institutional traders ahead of regular users. The product, called Truth API, is set to launch on August 1 and targets algorithmic trading firms and banks.

BlackRock’s iShares Bitcoin Trust saw $1.30 billion in outflows during the week of June 22-26. The fund accounted for nearly three-quarters of total US spot Bitcoin ETF exits that period. Bitcoin traded near $60,000 at the time of the data release.

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Institutional investors pulled nearly $2.7 billion from spot Bitcoin and Ethereum exchange-traded funds over the past two weeks. The outflows coincided with inflows into newer single-asset funds tracking Hyperliquid’s HYPE token, XRP, and Solana.

Bitcoin fell to an intraday low of $58,189 on June 25 before recovering toward $59,700. Spot Bitcoin ETFs recorded net outflows of roughly $692 million in recent sessions. The moves came ahead of a major options expiry.

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Bitcoin traded around $65,000 on Thursday as escalating U.S.-Iran conflict drove oil prices higher and pushed Treasury yields to multi-month peaks. Spot Bitcoin ETFs drew nearly $1 billion in inflows over seven sessions. Grayscale Research said the price may have already bottomed.

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