The U.S. Securities and Exchange Commission has extended its regulatory review of the proposed Truth Social Bitcoin exchange-traded fund until September 18, 2024. This 45-day extension provides additional time to thoroughly evaluate the fund’s compliance framework and political affiliations as part of standard oversight procedures.
The Truth Social Bitcoin ETF application was submitted by NYSE Arca on behalf of Yorkville America Digital and Trump Media and Technology Group. The proposal has attracted heightened regulatory attention due to its associated political connections.
Trump Media has concurrently filed two additional cryptocurrency ETF applications: a dual-asset fund combining Bitcoin and Ethereum allocations (75%/25%) and the Truth Social Crypto Blue Chip ETF. These submissions are undergoing separate regulatory evaluation processes.
The SEC’s extended review timeline mirrors similar regulatory delays encountered by other cryptocurrency ETFs, including Grayscale’s Solana Trust and Canary Capital’s Litecoin ETF. Such extensions are consistent with the SEC’s established review procedures which permit up to 240 days for formal determinations on ETF applications.