Bewildered Trump Family Bots Hustle to Launch Bitcoin ETF—You Won’t Believe It!🤯

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Bewildered Trump Family Bots Hustle to Launch Bitcoin ETF—You Won’t Believe It!🤯

Well now, would you look at that! The Trump crowd, that bunch of sharp-eyed foxes, claims they’re fixin’ to set up a newfangled thing they call the Truth Social Bitcoin ETF, as if the world hasn’t seen enough of their circus acts. According to a little something they filed with the SEC back on June the 3rd—just a few days ago—they’re strutting around like they own the whole kit and caboodle, partnering up with some outfit called Yorkville Advisors, which they insist is “America-First.” Sounds mighty patriotic, don’t it? 🦅

It’s really happening. Trump’s company is launching a Bitcoin ETF — James Seyffart (@JSeyff) June 3, 2025

Another Spot Bitcoin ETF—Because the First One Wasn’t Enough

So they got some folks at Foris DAX Trust Company to keep an eye on the shiny digital gold, even though they forgot to mention how much it’ll cost or what ticker symbol they’ll slap on it. This new bit of nonsense joins over sixty other such funds in the good ol’ USA, all trying to track the price of Bitcoin like a hound tracks a fox, with some of them doing it about as well as a blind man at a firecracker factory. 💥

Bloomberg’s own Mr. Balchunas, a man who keeps tabs on such things, says it’s a “huge endorsement of Bitcoin,” but warns it’s just another fish in a very crowded pond—so crowded, in fact, that the fish are probably sleepin’ on each other’s fins. 🐟

“But on the other hand, it’s a routine filing in a very crowded category, and it will have its work cut out to attract flows and liquidity.”

The critics, those ever-watchful buzzards, squeal about conflicts of interest—what a surprise!—saying President Trump’s got his fingers in too many pies, possibly profiting from this new Bitcoin hanky-panky while trying to set the rules of the game. The White House, bless their hearts, say Trump’s taken his business shady dealings and put ‘em into a trust controlled by his son—that’s what they claim, at least.

Bitcoin Funds Are Shooting Up Like a Castle in the Air

Since these Bitcoin funds took off about a year and a half ago, they’ve scooped up some $44.4 billion, more than a throng of farmers’ markets on a Saturday. And wouldn’t you know it, BlackRock’s kid kinda late to the party, but seems to be roughhousing at the top of the heap now. The young turf-tester, called IBIT, is only about a year and a half old—like a greenhorn in the poker game, yet already making mighty big waves. 🌊

“It’s like an infant hanging out with teenagers and twenty-somethings,” said Balchunas, with a smirk. And he thinks this little pocket rocket might outdo Satoshi Nakamoto himself—whoever that might be—by next year’s end. That’s the power of low costs, easy access, and the trust folks put in these things. 🤔

Meanwhile, in a twist of fate, eleven of these spot ETFs are about to break a three-day dry spell, drawing in an inflow of a hefty $375 million—pretty good for a bunch of digital coins and a whole lot of gambler’s luck.

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2025-06-04 08:26