SEC Extends Review of Truth Social Bitcoin ETF Amid Rising Political and Crypto Sector Scrutiny
Main Idea
The SEC has extended its review of the Truth Social Bitcoin ETF to September 18, 2025, due to increased political involvement and a surge in crypto ETF filings, affecting other altcoin funds like Grayscale as well.
Key Points
1. The SEC extended its review of the Truth Social Bitcoin ETF to September 18, 2025, allowing more time to evaluate the proposal.
2. Truth Social's Bitcoin ETF, filed in June 2025, aims to list on NYSE Arca and is linked to Trump Media & Technology Group.
3. Truth Social has also filed two additional crypto ETFs: a Bitcoin and Ethereum ETF (75% Bitcoin, 25% Ethereum) and a diversified crypto ETF (Bitcoin, Ethereum, Solana, Cronos, XRP).
4. The SEC's delay also impacts other altcoin ETF applications, including Grayscale's Solana Trust and Canary Capital's Litecoin ETF.
5. The surge in crypto ETF filings under President Trump's administration has increased the SEC's regulatory workload.
Description
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