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Trump Media & Technology Group has withdrawn its plans for Truth Social-branded spot bitcoin and bitcoin-and-ether ETFs.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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Illustration of Bitcoin ETF outflows near $1B with rising yields and financial charts for a news article.
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Bitcoin ETF outflows near $1 billion amid rising yields

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Bitcoin spot ETFs saw nearly $1 billion in outflows over May 18-19 as Treasury yields rose and Federal Reserve rate-hike odds increased, ending a six-week inflow streak.

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Trump Media is exploring a spinoff of its Truth Social platform into a separate public company, building on its recent cryptocurrency ETF filings and the surge in Bitcoin and crypto exchange-traded funds.

Bitcoin ETF outflows hit $648 million after clarity act vote

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Bitcoin exchange-traded funds saw sharp outflows of $648.6 million in the days following a key Senate committee vote on cryptocurrency legislation. The reversal came despite the advance of the Digital Asset Market Clarity Act, which had offered a policy boost to the sector. Prices for the leading cryptocurrency fell from above $81,000 to around $77,200.

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BlackRock’s digital assets ETFs, managing nearly $60.7 billion in assets, produced $42 million in fees during the first quarter of 2026. This figure represented 1.75% of the firm’s total ETF fees, despite comprising just 1.11% of ETF assets under management. The revenue highlights crypto’s higher fee rates but also its vulnerability to market swings.

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