The withdrawal highlights the challenges politically affiliated firms face in competing with established financial giants in the crypto ETF market. Trump Media withdraws SEC registration for Truth Social bitcoin ETFs.
Trump Media withdrew its bitcoin ETF filing as analysts pointed to fee pressure, weak demand and fierce competition in the crowded spot bitcoin ETF market.
Amid $1.07 billion in crypto fund outflows driven by Iran-related risk-off sentiment, XRP stood out by attracting $67.6 million in inflows, defying the broader market retreat.