Bitcoin ETF · Bitcoin · Donald Trump · SEC · 99Bitcoins
Why Truth Social Scrapped Its Bitcoin ETF: What This News Means for Retail Investors
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In crypto ETF news, Trump Media & Technology Group (TMTG), the parent company of Truth Social, has officially withdrawn its application for a branded spot Bitcoin ETF, filing a formal SEC withdrawal on May 20, 2026.
Key facts
- In crypto ETF news, Trump Media & Technology Group (TMTG), the parent company of Truth Social, has officially withdrawn its application for a branded spot Bitcoin ETF, filing a formal SEC withdrawal
- The withdrawal was filed as a formal SEC Form RW, meaning the registration statement (file number 333-288064) was pulled from the active review queue before the SEC ever made a decision
- Yorkville has now signaled it will pivot to filing under the Investment Company Act of 1940, a more heavily regulated fund structure with board oversight, which suggests the original ’33 Act ETF
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Summary
The company’s advisor, Yorkville America, described the move as strategic, citing plans to reapply under a more efficient securities framework. President Trump's Truth Social has filed to withdraw its Bitcoin ETF application with the SEC. pic.twitter.com/3EqGk63d0H. — That Martini Guy ₿ May 20, 2026. Think of launching an ETF like opening a pharmacy, not a store.