The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Truth Social Bitcoin ETF, extending the review deadline to September 18. The ETF, proposed in June by Trump Media & Technology Group — the parent company of Donald Trump’s social media platform — aims to provide investors exposure to Bitcoin as part of its growing push into the cryptocurrency market.
The delay is part of a broader regulatory slowdown under newly appointed SEC Chair Paul Atkins, who has also deferred rulings on other crypto funds, including the Grayscale Solana Trust and Canary Capital’s proposed Litecoin ETF. The SEC often uses the full 270-day review window for ETF applications, with current discussions focusing on critical issues like staking and in-kind redemption processes, especially for Solana-based funds.
Truth Social’s ETF proposal follows the SEC’s approval of several spot Bitcoin ETFs under former Chair Gary Gensler, which collectively attracted over $55 billion in inflows since their January 2024 launch. The surge in demand for crypto-linked exchange-traded funds has heightened competition among issuers seeking to capitalize on mainstream adoption of digital assets.
Beyond the Bitcoin ETF, Trump Media is pursuing additional cryptocurrency investment products, including the Truth Social Crypto Blue Chip ETF and a dual Bitcoin-Ethereum ETF. These filings signal the platform’s ambition to expand beyond social media and position itself as a player in the digital asset sector.
The SEC stated the extension was necessary to “allow sufficient time to consider the proposed rule change and the issues raised therein,” leaving the market watching closely as regulatory scrutiny on crypto ETFs intensifies.