Trump’s Social Media Firm Wants a Piece of Bitcoin Pie — Is It a Wet Crypto Dream? 🔥

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Trump’s Social Media Firm Wants a Piece of Bitcoin Pie — Is It a Wet Crypto Dream? 🔥

In a move that makes as much sense as a tea cup in a hurricane, Donald Trump’s social media empire, Truth Social, is inching towards launching a Bitcoin ETF, or at least that’s what they claimed in a filing with the U.S. Securities and Exchange Commission. Because, sure, why not turn social media into a crypto venture? It’s the 21st century, after all! 🎉

Yorkville America Digital, apparently feeling a bit left out of the crypto party, is noted as the sponsor of this forthcoming financial rollercoaster. Meanwhile, the NYSE Arca, that beautifully all-electronic arm of the New York Stock Exchange, waved its digital wand with a filing of its own, presumably to make sure the SEC knows they’re serious about making bitcoin investment easier — or at least more confusing.

With Bitcoin ETFs riding a popularity wave akin to a surfer who’s just discovered their surfboard, including BlackRock’s heavyweight iShares Bitcoin ETF, Trump’s latest entry hints at no subtlety — just pure, unadulterated crypto fanfare. The ETF will track Bitcoin’s every move (probably like a stalker), giving investors a shiny new way to say, “I own Bitcoin… on paper.”

Eric Balchunas, Bloomberg’s ETF whiz, noted that the filing was about as revealing as a fortune cookie — no management fees, no ticker symbol, and no mention of Trump’s name. Apparently, the mystery will be revealed in what he calls an S-1 filing, because who doesn’t love a good secret? 🕵️‍♂️

Trump’s company just filed for a Truth Social Bitcoin ETF, which will track spot bitcoin and list on NYSE. — Eric Balchunas (@EricBalchunas) June 3, 2025

Meanwhile, Trump Media (ticker: DJT) stock closed a modest 2.10% higher at $21.84, because what’s a little crypto hype without a bit of stock market sparkle? Expect more upward whirls today, as the stock is already jumping after-hours, proving that in the world of Trump, surprises never sleep. 💤

And just to add a cherry on this digital cake, Trump’s merry band announced they’ve raised a staggering $2.5 billion to build a Bitcoin treasury and keep the lights on — or perhaps to fuel future wild crypto schemes. Either way, it’s a crypto carnival, folks, and everyone’s invited — whether they like it or not.

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2025-06-04 07:22