The U.S. Securities and Exchange Commission (SEC) has officially declared Trump Media & Technology Group’s (TMTG) registration effective for its planned $2.3 billion Bitcoin treasury initiative, marking a major regulatory milestone for the company tied to former U.S. President Donald Trump.

The approval, confirmed in a June 13 SEC filing, validates the company’s S-3 registration statement submitted on June 6, clearing the path for the resale of approximately 56 million common shares and 29 million shares linked to convertible debt instruments. These equity and debt arrangements involve around 50 institutional investors, enabling TMTG to raise the capital needed for its Bitcoin acquisition.

The S-3 filing also included a universal shelf registration, a tool that gives TMTG flexibility to issue securities in the future, although the company noted it has no immediate plans to do so.

“We’re aggressively implementing our plans to expand the company, our offerings, and our capabilities,” said Devin Nunes, CEO and President of TMTG.
“By enhancing our social media and streaming platforms, and expanding our fintech footprint with a Bitcoin treasury, we’re building a central hub for the emerging ‘Patriot Economy.’”

The registration follows weeks of speculation and initial denials. On May 27, the company confirmed its $2.5 billion capital raise for Bitcoin purchases. At the time, Nunes described the asset as an “apex instrument of financial freedom” and signaled that cryptocurrency would become a core part of the company’s treasury management strategy.

TMTG’s move echoes the bold Bitcoin strategy of firms like MicroStrategy, prompting some market analysts to compare Trump Media’s actions to those of Michael Saylor, a prominent advocate of corporate Bitcoin adoption.

ETF Ambitions and Regulatory Filings

In addition to its treasury initiative, TMTG filed on June 5 to launch a spot Bitcoin exchange-traded fund (ETF). According to the filing, the proposed ETF’s assets will “consist primarily of Bitcoin held by a custodian on behalf of the Trust” and aims to “generally reflect the performance of the price of Bitcoin.”

The dual strategy—direct BTC holdings and a proposed ETF—positions TMTG as an emerging player in the increasingly institutionalized digital asset landscape, although it remains to be seen how the SEC will respond to the ETF filing amid its evolving stance on crypto investment products.

Market Reaction

Despite the regulatory green light, TMTG’s stock (NASDAQ: DJT) closed down 2.06% at $19.52 on June 13, reflecting continued investor caution and volatility surrounding the company’s crypto-linked strategy.

The SEC’s decision to approve the S-3 registration is likely to further intensify debate over the intersection of politics, crypto assets, and financial regulation, particularly as Trump-linked entities deepen their engagement with Bitcoin and digital finance infrastructure.