Yorkville America has withdrawn several planned Truth Social crypto ETF filings as the company changes its strategy for launching future investment products.
The withdrawn filings included the Truth Social Bitcoin ETF, the Truth Social Bitcoin and Ethereum ETF, and the Truth Social Crypto Blue Chip ETF. The products were tied to Trump Media & Technology Group’s growing digital asset business plans.
Yorkville said it is moving away from crypto ETF structures registered under the Securities Act of 1933 and instead plans to focus on products built under the Investment Company Act of 1940.
Yorkville America President Steve Neamtz said the company is not stepping back from crypto products but is instead shifting toward what it believes is a stronger and more flexible investment structure.
According to the company, the ’40 Act framework offers benefits such as broader investor access, more regular disclosure requirements, independent oversight, and potential tax advantages. Yorkville added that its current Truth Social Funds lineup already operates under this structure.
The move does not guarantee that new crypto ETFs will immediately launch under the new framework, but it signals a major shift in how Yorkville plans to develop future products connected to the Truth Social Funds brand.
The decision also comes at a time when demand for crypto ETFs has weakened compared to earlier this year. Recent market data showed U.S. spot Bitcoin ETFs recorded around $1 billion in net outflows during the week ending May 15, ending a six-week inflow streak. Ethereum ETFs also saw more than $255 million in withdrawals during the same period.
At the same time, Trump Media has been facing financial pressure. The company recently reported a first-quarter net loss of around $405.9 million, with much of the loss linked to unrealized losses on digital assets and related investments.
Despite the losses, Trump Media continues expanding its crypto strategy through its Truth.Fi brand. The company previously partnered with Crypto.com and Yorkville America Digital to develop crypto-related ETFs and investment products.
Yorkville’s latest decision narrows the short-term path for Truth Social crypto ETFs, while investors now wait to see whether the company returns with revised crypto fund filings in the future.
