PANews reported on May 20th, citing Cointelegraph, that asset management firm Yorkville America has withdrawn applications for several crypto ETFs submitted on behalf of Truth Social, a company under President Trump, due to a product strategy shift. The company stated it will abandon products registered under the Securities Act of 1933 and switch to a structure under the Investment Company Act of 1940, believing the latter offers stronger investor protection and tax efficiency. The withdrawn products include the Truth Social Bitcoin ETF , the Bitcoin & Ethereum ETF, and a crypto blue-chip ETF.