Trump's TMTG group received SEC approval for a $2.4 billion Bitcoin treasury deal

Trump Media and Technology Group, the parent company of President Donald Trump’s Truth Social platform, has received formal approval from the U.S. Securities and Exchange Commission for its $2.3 billion Bitcoin treasury deal.

According to an SEC filing dated June 13, the agency “declared effective” TMTG’s Form S-3 registration statement, which the company filed on June 6.

This form allows U.S. corporations to register a variety of securities, including stocks, options and different debt instruments. On the same day, TMTG also filed its final prospectus with the SEC.

As outlined in the filing, TMTG registered the resale of roughly 56 million shares, along with another 29 million shares tied to convertible notes. These debt and equity agreements involved about 50 investors and generated the full $2.3 billion that the company plans to hold in Bitcoin.

The registration statement also establishes a universal shelf, giving TMTG added flexibility to raise funds or issue securities in the future. Despite this, the firm has stated it has “no immediate plans” to sell any securities under the shelf.

Chief Executive and President Devin Nunes commented on the filing, saying, “We’re aggressively implementing our plans to expand the Company, our offerings, and our capabilities.”

He further added, “By simultaneously enhancing and growing our social media platform, TV streaming platform, and our fintech brand while establishing a Bitcoin treasury, we aim to continue rapidly transforming Trump Media into an indispensable company for the expanding customer base of the Patriot Economy.”

TMTG’s stock dipped on the same trading day

On the same trading day, TMTG’s shares dipped 2.06 percent, closing at $19.52, according to Google Finance data.

This move follows TMTG’s May 27 announcement that it had raised $2.5 billion to buy Bitcoin, a deal the company had initially denied in earlier reports.

Nunes described Bitcoin a financial freedom instrument at that time, adding that Trump Media would keep the cryptocurrency as a key asset. He said, “Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets.”

Beyond its treasury holdings, TMTG is also pursuing a spot Bitcoin exchange-traded fund (ETF). Blockchain analytics firm Arkham noted in a May 28 post on X that “Donald Trump’s company, Trump Media, will buy $2.5 BILLION of Bitcoin. Is Trump about to go Saylor Mode?”

Later on June 5, TMTG filed the launch of a Bitcoin ETF with the SEC, stating, “The assets of the Trust consist primarily of Bitcoin held by a custodian on behalf of the Trust. The Trust seeks to reflect generally the performance of the price of Bitcoin.”

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