Truth Social’s 3 Crypto ETF Filings Pulled From SEC Review
Yorkville America Equities has withdrawn the registration statements for the Truth Social crypto ETFs from the Securities and Exchange Commission (SEC) on May 19.
The sponsor mentioned it’s going to redirect product improvement to the Investment Company Act of 1940 framework because it seeks to focus on extra compelling ETF methods.
Yorkville America Withdraws Truth Social Crypto ETFs
The withdrawn registrations covered the Truth Social Bitcoin ETF, the Truth Social Bitcoin & Ethereum ETF, and the Truth Social Crypto Blue Chip ETF. The ETFs had been filed between June and July 2025.
“The Company has decided to withdraw the Registration Statement and to not pursue the general public providing right now. The Registration Statement has not been declared efficient by the Commission, and the Company confirms that no securities have been bought pursuant to the Registration Statement,” the submitting reads.
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Meanwhile, all three withdrawals had been submitted beneath Rule 477(a). Yorkville additionally invoked Rule 457(p) to request that paid submitting charges be credited towards future submissions.
Yorkville framed the pullback as a shift in regulatory technique slightly than a retreat. Moreover, the agency mentioned the 1940 Act provides stronger investor protections, better operational flexibility, and broader entry to institutional distribution channels.
“Yorkville America is just not stepping again – we’re stepping ahead with a stronger product platform,” Steve Neamtz, President, Yorkville America, said.
Bloomberg Intelligence’s Senior Research Analyst James Seyffart questioned Yorkville’s acknowledged rationale in a put up on X.
“But it doesn’t make a ton of sense to me. Of course a 33 act ETP is completely different from a 40 act ETF and it has much less protections. Anyone on this house is aware of that. Nothing has modified,” he mentioned.
Seyffart pointed to competitors slightly than regulation because the extra probably driver. He flagged Morgan Stanley’s spot Bitcoin ETF, MSBT, which entered the market at a 14-basis-point charge.
“They do appear to planning to launch extra versatile crypto associated ETF methods within the 40 act wrapper which is sensible. I imply do we actually want a 14th spot bitcoin ETF? But one thing that may be extra differentiated is sensible,” he added.
Yorkville didn’t launch a timeline for relaunching crypto-focused merchandise beneath the brand new framework. Thus, for now, Trump Media’s spot Bitcoin and Ethereum ETF ambitions remain on hold pending that pivot.
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