Trump Group Withdraws Crypto ETF Filings Amid Executive Order and CLARITY Act Scrutiny
On May 20, 2026, Trump Media & Technology Group suddenly withdrew three cryptocurrency exchange-traded fund (ETF) registration statements filed in June and July 2025. The withdrawals follow President Donald Trump's executive order directing the Federal Reserve to review rules limiting fintech and crypto firms' access to master accounts within 90 days.
The withdrawn filings were for the Truth Social Bitcoin ETF, the Truth Social Bitcoin & Ethereum ETF, and the Truth Social Crypto Blue Chip ETF. According to Sosovalue data, U.S. spot Bitcoin ETFs recorded a net capital outflow of around $331 million on Tuesday amid broader market turmoil.
Bloomberg analyst James Seyffart suggested that the CLARITY Act could be a driver behind the withdrawal, citing its core regulatory ethics provision prohibiting senior officials and their families from issuing, sponsoring, or endorsing digital assets while in office. Senator Elizabeth Warren has also criticized the Trump family's cryptocurrency holdings as 'political corruption.'
The withdrawals come after Yorkville America Equities submitted letters to the SEC requesting the fees paid to date be credited for future use. As voluntary withdrawals, no SEC approval is required to end the review process.