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SEC Delays Truth Social Bitcoin ETF and Grayscale Solana Trust Decisions
The United States Securities and Exchange Commission (SEC) has delayed its decision on the proposed Truth Social Bitcoin ETF and Grayscale Solana Trust, setting a new deadline of September 18 for the former and October 10 for the latter.
According to an SEC filing, the agency requires additional time to evaluate the proposal under its commodity-based trust share framework. This decision underscores the regulator’s cautious stance towards cryptocurrency-related exchange-traded funds (ETFs).
The Truth Social Bitcoin ETF, backed by Trump Media and Technology Group, seeks approval to list on NYSE Arca. The SEC has extended the timeline to review the application and any related comments.
This development is not without controversy, as concerns have been raised about Donald Trump’s potential involvement in regulatory decisions impacting crypto markets and funds linked to his ventures.
In a separate filing, the SEC also delayed its decision on Grayscale’s Solana Trust proposal, alongside a delay for Canary Capital’s proposed Litecoin ETF.
Source: coinchapter.com
