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Trump Media cancels Bitcoin ETF filings amid fierce market competition and major Bitcoin ETF outflows.

Market News
20 May 2026
Blockonomi
View Source
Bearish
pluang ai news

Trump Media & Technology Group has withdrawn its SEC filings for two Bitcoin-related ETFs, planning to refile under a different regulatory framework to offer more flexible investment strategies. This move coincides with a significant $648.6 million outflow from U.S. spot Bitcoin ETFs on May 18, 2025, led by BlackRock's fund. The withdrawal also reflects rising fee competition, notably from Morgan Stanley's low-cost Bitcoin ETF, which has attracted substantial investor capital. The shift to the Investment Company Act of 1940 aims to provide better investor protections and operational transparency.

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