Trump Media & Technology Group has moved 2,650 Bitcoin, worth about $205 million, to Crypto.com, according to on-chain data cited by market observers. The transfer comes as the company has withdrawn applications for several Truth Social-branded cryptocurrency exchange-traded funds. The transaction has drawn attention because deposits to exchanges are often monitored as possible sale activity. Trump Media has not publicly confirmed whether the Bitcoin transfer was intended for a sale, custody change, or another treasury purpose. The company behind Truth Social previously sold 2,000 Bitcoin earlier in 2026 when BTC traded near $87,000. Trump Media originally bought 11,542 BTC at an average cost of about $119,000 per coin and reported holding 9,542 BTC at the end of the first quarter. Trump Media Moves Bitcoin to Crypto.com After the latest transfer, Trump Media’s wallet is estimated to hold about 6,889 Bitcoin, valued near $534 million based on the prices cited in the source material. If the deposited Bitcoin is sold, the company would move lower among corporate Bitcoin holders and could fall behind Galaxy Digital in the rankings. Trump Media built its Bitcoin treasury between July and August 2025, when Bitcoin was trading near record levels. The move placed the company among public firms using Bitcoin as a reserve asset. The strategy has been compared with the corporate Bitcoin model used by Strategy, the company chaired by Michael Saylor. The main difference is that Strategy began buying Bitcoin at much lower prices, while Trump Media entered near six-figure levels. Truth Social Crypto ETF Filings Withdrawn Trump Media has also withdrawn applications for three Truth Social-branded crypto ETFs. The affected products were the Truth Social Bitcoin ETF, the Truth Social Bitcoin & Ethereum ETF, and the Truth Social Crypto Blue Chip ETF. The Crypto Blue Chip ETF was designed to hold a basket of digital assets, including Bitcoin, Ether, Solana, and XRP. The filings were sponsored alongside Yorkville America Digital. SEC filings said the company had decided not to pursue the public offerings at this time. The registration statements had not become effective, and no securities had been sold under the proposed funds. Yorkville America said the withdrawal was part of a strategic reset. The firm said it may pursue a structure under the Investment Company Act of 1940 instead of the Securities Act of 1933 framework used by many spot commodity-style products. Losses and ETF Competition Add Pressure Trump Media reported a first-quarter net loss of about $406 million, according to the SEC disclosure cited in the source material. The company recorded about $244 million in unrealized losses tied mainly to Bitcoin holdings. It also reported around $108 million in losses from equity securities and investment positions. Its equity securities portfolio declined from $722 million at the end of 2025 to $554 million by the end of the first quarter of 2026. The company partly offset those losses through $37 million in options gains and $17 million in realized derivative profits. Trump Media also disclosed ownership of 756 million Cronos tokens acquired through a prior agreement with Crypto.com. Those tokens were valued at about $53 million. The ETF withdrawal also comes during a more competitive period for Bitcoin funds. Morgan Stanley recently launched a Bitcoin ETF with a 0.14% annual expense ratio, placing fee pressure on other issuers seeking investor inflows. Bloomberg analyst James Seyffart said the withdrawal may be linked to the competitive landscape for spot Bitcoin ETFs. U.S. spot Bitcoin ETFs have already attracted more than $57.7 billion in cumulative inflows since their approval in January 2024. Trump Media’s crypto activity remains under close review because of its connection to President Donald Trump and the wider political debate over digital assets. The CLARITY Act has added further attention by proposing restrictions on crypto activity involving senior public officials and their families while in office.
