The U.S. Securities and Exchange Commission (SEC) has delayed its decision on a proposed bitcoin (BTC) exchange-traded fund (ETF) tied to Truth Social, the social media platform operated by Trump Media & Technology Group. The ETF application was submitted in June.
In a notice issued Monday, the SEC said it would extend its review period until September 18. The agency explained that it needs more time to evaluate the proposed rule change and address the questions it raises.
SEC Holds Off on Trump-Tied BTC ETF
Truth Social is known as the primary platform where former President Donald Trump posts updates. The proposed bitcoin ETF would mark the latest crypto initiative connected to Trump, following his involvement in memecoins and the DeFi project World Liberty Financial, backed by the Trump family.
The proposal comes amid rising demand for regulated crypto products. Since early 2024, the SEC has approved 12 spot BTC ETFs, which have collectively attracted over $54.8 billion in inflows. These funds have become some of the strongest-performing financial products in recent months.
Ethereum ETFs have also gained approval, further expanding access to crypto assets through regulated markets. However, while BTC and Ethereum-based products have gained traction, applications tied to other digital assets continue to face delays.
SEC Extends Grayscale Solana Deadline
On the same day as the Truth Social filing update, the SEC postponed a separate decision on the Grayscale Solana Trust. That deadline has now been extended to October 10.
Several firms are currently seeking approval to launch Solana-based ETFs. These include prominent names such as Bitwise, VanEck, Canary, and 21Shares.
It’s worth noting that postponing ETF rulings is a routine part of the SEC’s review process. However, the volume of crypto-related proposals has risen sharply since Trump returned to office in January.
Notably, the surge reflects a broader shift in policy direction under the new administration. Trump has signaled support for the digital asset industry through both rhetoric and regulatory appointments.
His administration recently tapped former commissioner Paul Atkins—widely viewed as crypto-friendly—to lead the SEC. The move is seen as a potential tailwind for pending ETF applications.
Ephraim Emmanuel | August 7, 2026
