- The SEC extended the review of Truth Social’s Bitcoin ETF to Sept 18, citing the need for more time to assess the proposal.
- Truth Social filed three crypto ETFs, marking the first digital asset funds linked to a current U.S. presidential candidate.
- SEC delays also affect Grayscale and other altcoin ETFs as political involvement and crypto ETF filings continue to rise.
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Truth Social Bitcoin ETF, extending the review period to September 18, 2025. The application, filed by Truth Social in partnership with Yorkville America Digital, seeks to list a spot Bitcoin ETF under NYSE Arca.
In a filing on Monday, the agency noted it required more time to assess the proposed rule change and address related issues. This is the first digital asset ETF tied to a platform operated by Trump Media & Technology Group, a company linked to President Donald Trump.
Proposal Filed in June Under Standard SEC Timeframes
Truth Social submitted the ETF proposal on June 3, with the SEC’s initial deadline set for August 4. However, the Commission exercised its authority to extend the timeline by 45 days.
Under current SEC rules, the agency may take up to 240 days to make a final decision on ETF filings. The Truth Social ETF falls under the commodity based trust share framework, similar to the 12 Bitcoin spot ETFs approved earlier in January 2024.
This ETF would be the first tied directly to the business interests of a current U.S. presidential candidate. Although President Donald Trump owns a majority stake in TMTG, it is held in a trust controlled by his son, Donald Trump Jr.
Truth Social Expands ETF Filings
Alongside the Bitcoin only product, Trump Media has submitted two additional crypto ETF proposals. The second fund, filed on June 24, is the Truth Social Bitcoin and Ethereum ETF. It would hold a 75% allocation in Bitcoin and 25% in Ethereum.
According to the filing, custody services would be managed by Foris DAX Trust Company, an affiliate of Crypto.com. The third product in the pipeline is the Truth Social Crypto Blue Chip ETF. It is structured to offer diversified exposure across digital assets such as Bitcoin, Ethereum, Solana, Cronos, and XRP.
These filings reflect a broader push by TMTG to expand its footprint within the digital asset sector. Beyond ETFs, the company has also filed two AI-related trademarks and disclosed plans to launch a utility token for its platforms.
SEC Also Delays Decision on Grayscale and Other Altcoin Funds
In addition to the Truth Social proposal, the SEC delayed its verdict on the Grayscale Solana Trust to October 10. The agency also extended the review for Canary Capital’s Litecoin ETF application.
Other firms, including Bitwise, 21Shares, and VanEck, are awaiting decisions on proposed Solana funds. Commissioner Hester Peirce addressed these delays in a May interview with Bloomberg.
She pointed to internal discussions, legal issues, and overlapping jurisdiction as contributing factors. Delays have become more frequent since President Trump took office, with the SEC receiving increased crypto ETF filings.
Trump recently appointed Paul Atkins, known for his crypto friendly stance, to chair the SEC. These developments show a growing wave of politically affiliated crypto initiatives now undergoing regulatory review in Washington.
