Donald Trump's social media platform, Truth Social, has filed to launch a Spot Bitcoin Exchange-Traded Fund (ETF) through its parent company TMTG, indicating a notable pivot into digital assets.
The move by Truth Social to offer a Spot Bitcoin ETF, allowing direct exposure to Bitcoin without needing to manage a digital wallet, signals growing institutional interest in Bitcoin.
The filing has generated increased enthusiasm among retail investors and crypto enthusiasts, leading to a surge in interest in meme coins like Bitcoin Pepe, with traders seeking alternative investment avenues.
The entry of Truth Social into the ETF space, backed by its political affiliation and conservative user base, may introduce Bitcoin exposure to a new demographic of retail investors and has the potential to impact meme coin rallies in the future.