The Trump family's crypto-related moves have continued to dominate the airwaves today. First, news emerged that a dedicated $TRUMP meme coin wallet was supposedly in the works only for Donald Trump Jr. to squash the ensuing speculative storm with a firm denial. Then, just moments back, Trump Media and Technology Group, which is the parent entity of the Truth Social platform, officially submitted its filings with the SEC to launch a Bitcoin ETF.
To say that President Trump's meme coin - aptly named $TRUMP - is a tad controversial would constitute an understatement. Ever since the US President hosted a dinner for the top $TRUMP coin holders, the token has been the center of attention in political and crypto circles.
The Trump Organization has zero involvement with this wallet product. @EricTrump and I know nothing about it. Stay tuned—World Liberty Financial @worldlibertyfi, which we have been working tirelessly on, will be launching our official wallet soon. https://t.co/h1wO7dy6AX
— Donald Trump Jr. (@DonaldJTrumpJr) June 3, 2025
Against this backdrop, a rumor that the launch of a dedicated $TRUMP wallet was imminent spread like wildfire earlier today. Thankfully, Donald Trump Jr. quickly disassociated his family from this development, while confirming the upcoming launch of a wallet by World Liberty Financial, a DeFi platform that is backed by the Trump family.
JUST IN: 🇺🇸 President Trump's Truth Social filed for a Bitcoin ETF 🚀 pic.twitter.com/txxMqKJytu
— Bitcoin Magazine (@BitcoinMagazine) June 3, 2025
As the buzz around a $TRUMP coin wallet was just dying down, Trump Media and Technology Group submitted its filings with the SEC to launch the Truth Social Bitcoin ETF on NYSE Arca.
Bear in mind that Trump Media and Technology Group's board approved back in January the diversion of up to $250 million towards setting up customized SMAs and ETFs under the Truth.Fi brand. In April, Trump Media officially launched this service in partnership with the asset management firm, Yorkville America Equities, and the provider of thematic investment solutions, Index Technologies Group.
This comes as Trump Media and Technology Group raised $2.5 billion last week to establish a Bitcoin Treasury. To do so, the company entered into subscription agreements with around 50 institutional investors to raise ~$1.5 billion by selling its common stock, and another $1 billion by issuing convertible senior secured notes.
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