Asset manager Yorkville America has requested to withdraw multiple crypto exchange-traded funds applications filed on behalf of the Donald Trump-backed Truth Social after changing its product strategy.

Yorkville America said Tuesday that it is moving away from offerings registered under the Securities Act of 1933, such as the proposed Truth Social Bitcoin ETF, to structures under the Investment Company Act of 1940, saying the shift would enable it to offer more innovative products while benefiting from stronger investor protections and tax efficiencies.

Yorkville America’s Truth Social Bitcoin & Ethereum ETF and Truth Social Crypto Blue Chip ETF were also withdrawn. The asset management firm said it “initiated this process after…