The company behind Truth Social has withdrawn its application to launch a Bitcoin (CRYPTO: $BTC) exchange-traded fund (ETF).
Trump Media & Technology Group has withdrawn a registration with the U.S
Securities and Exchange Commission (SEC) for “Truth Social Bitcoin” and “Bitcoin-Ethereum” (CRYPTO: $ETH) ETFs, effectively canceling their launch. Trump Media & Technology Group (NASDAQ: $DJT) runs the Truth Social platform that is an alternative to X, formerly known as Twitter. More From Cryptoprowl: Both ventures are backed by U.S.
President Donald Trump. Trump and his family members are involved in several cryptocurrency ventures and were aiming to bring Bitcoin and Ethereum ETFs under the Truth Social umbrella. However, Trump was trying to enter an increasingly crowded Bitcoin ETF market.