• The SEC delayed its decision on the Trump-backed Truth Social Bitcoin ETF until September 18 for further review.
• If approved the ETF would be the first linked to a US president’s business, adding to Trump’s crypto involvement.
• The SEC also delayed decisions on Solana and Litecoin ETFs as it continues to assess multiple crypto fund proposals.

The U.S. Securities and Exchange Commission has delayed its decision on the proposed Truth Social Bitcoin ETF. The agency extended the review deadline from August 4 to September 18. The ETF is backed by Trump Media & Technology Group and seeks to list on NYSE Arca.

Truth Social ETF Would Deepen Trump Crypto Ties

Truth Social filed for the ETF in June. If approved, it would be the first Bitcoin ETF tied directly to a U.S. president’s business entity. The SEC stated it needs more time to consider the proposed rule change and any issues raised. The application falls under the SEC’s commodity-based trust share framework.

The delay comes amid broader scrutiny of Trump-linked crypto initiatives. Earlier deals involving World Liberty Financial and a UAE-based firm have drawn ethics concerns from lawmakers. Critics argue these ventures may create regulatory conflicts, especially if the products influence U.S. crypto policy.

Trump Administration Expands Crypto Focus

President Trump has made digital assets a visible part of his policy agenda. On July 18, he signed the GENIUS Act, the first major U.S. law regulating stablecoins. He has also appointed Paul Atkins, a crypto-friendly former SEC commissioner, to lead the agency. Since Trump took office, the SEC has seen a surge in crypto ETF proposals.

The Truth Social ETF follows previous Trump family crypto ventures. These include DeFi partnerships and meme token projects. The new ETF would deepen financial ties to digital markets through a regulated instrument.

SEC Cautious Amid Wave of Crypto ETF Filings

The SEC has also delayed decisions on other digital asset products. On the same day, it also delayed a decision on Grayscale Solana Trust to October 10. Canary Capital’s proposed Litecoin ETF also faces delays. Such delays demonstrate the reluctance of the agency’s against the increased pressure imposed by the industry.

Although it is normal to expect delays, the prevailing process has been faster than in the past. The SEC only approved the first spot Bitcoin ETFs in January 2024, after over a decade of rejections. Twelve funds have launched, composed of inflows greater than 54.8 billion.

Ethereum ETFs have also received approval. However, the agency still hesitates to approve altcoin ETFs. Solana-based funds have applicants such as Bitwise and VanEck, and 21Shares, among others.