TLDR
SEC clears Trump Media to use $2.3B from investors for discretionary Bitcoin buys.
TMTG registers 84.7M shares for resale, unlocks $2.3B for BTC or corporate use.
Trump Media files for a spot Bitcoin ETF; custodian to hold BTC on fund’s behalf.
Truth.fi, launched in Jan 2025, marks TMTG’s crypto-focused fintech expansion.
The U.S. Securities and Exchange Commission (SEC) has approved Trump Media’s registration statement, allowing the company to proceed with a large-scale Bitcoin acquisition.
SEC Approves Trump Media Bitcoin Registration
The U.S. Securities and Exchange Commission has declared Trump Media and Technology Group’s (TMTG) S-3 registration effective. This move allows the firm to use the $2.3 billion raised from institutional investors to buy Bitcoin. The registration also includes approval to resell approximately 84.7 million shares held by early investors.
According to filings submitted on June 13, TMTG may now purchase Bitcoin at its discretion. The company stated in its final prospectus that it “will acquire its bitcoin and bitcoin-related holdings in the amounts and on the timeline it deems optimal.”
The S-3 registration form is commonly used by U.S. companies to register securities. TMTG also filed a universal shelf registration, allowing the company to issue up to $12 billion worth of stock, debt, or warrants in the future. However, the firm noted that there are “no immediate plans” to offer securities under the shelf at this time.
Bitcoin Acquisition Strategy and Treasury Plans
Trump Media did not disclose how much Bitcoin it plans to buy unlike Michael Saylor led Strategy. The company said the raised capital could also be used for other corporate needs. TMTG’s prospectus mentioned the firm might purchase Bitcoin-related securities and could choose to sell Bitcoin under certain conditions.
The company also left open the possibility of investing in other assets, such as cash equivalents and interest-bearing investments. TMTG emphasized that these decisions would depend on market conditions and internal assessments.
The raised capital comes from around 50 institutional investors through equity and convertible note agreements. These deals registered approximately 56 million shares and an additional 29 million tied to convertible instruments.
Expansion into Crypto and Financial Technology
Trump Media has expanded its services beyond social media. In addition to Truth Social, it operates a streaming service named Truth+ and a new fintech division called Truth.fi. Launched in January 2025, Truth.fi focuses on financial services with crypto-related offerings.
The company described Truth.fi as “a financial services and FinTech brand incorporating America First investment vehicles.” TMTG executives have stated the company aims to grow its reach in the emerging “Patriot Economy.”
Trump Media’s CEO, Devin Nunes, stated, “We’re aggressively implementing our plans to expand the Company, our offerings, and our capabilities.” He also noted that the company’s expansion includes building its Bitcoin holdings alongside other platforms.
TMTG Files for Spot Bitcoin ETF
On June 5, TMTG filed with the SEC to launch a spot Bitcoin exchange-traded fund (ETF). According to the company, the ETF would reflect the price performance of Bitcoin. A custodian would hold the Bitcoin on behalf of the fund.
This filing comes shortly after the firm’s confirmation on May 27 that it had raised capital for a Bitcoin purchase. At the time, the company responded to earlier media speculation and confirmed its plans to pursue cryptocurrency investment.
Blockchain analytics firm Arkham commented on social media, noting the large size of the Bitcoin purchase plan. The post read, “Donald Trump’s company, Trump Media, will buy $2.5 BILLION of Bitcoin.”
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