Truth Social pulls its Bitcoin ETF applications from the SEC, citing a pivot to a different regulatory framework

Trump Media & Technology Group's Truth Social has withdrawn its Form S-1 registration statements for both the Truth Social Bitcoin ETF and the Truth Social Bitcoin & Ethereum ETF, filings submitted to the SEC on Monday confirm. The applications, originally filed in June 2025, are now officially off the table.

Sponsor and investment advisor Yorkville America framed the move as a strategic pivot, saying the '40 Act (Investment Company Act of 1940) framework offers structural advantages — enhanced investor protections, tax efficiency, and transparency — that the '33 Act registration path couldn't deliver. Bloomberg ETF analyst James Seyffart was more direct, pointing to the competitive landscape: Morgan Stanley's MSBT launched last month at just 14 basis points, already pulling in over $230 million in inflows and surpassing Hashdex and WisdomTree in net assets.

The broader spot bitcoin…