Simply put
- The SEC has delayed its decision on the approval of the Truth Social Bitcoin ETF and the Grayscale Solana ETF, according to recent filings.
- New deadlines for these ETFs have been set for September 18th and October 10th, respectively.
- In recent months, the SEC has postponed decisions on several crypto-based ETF applications, despite showing a more accommodating stance towards cryptocurrencies.
The Securities and Exchange Commission has extended its timeline for deciding on Bitcoin and Solana-related exchange-traded funds, indicating ongoing regulatory scrutiny over crypto investment products.
The SEC will take an additional eight weeks to determine whether to permit trading of the Truth Social Bitcoin ETF and the Grayscale Solana Trust. These decisions follow submissions regarding changes to the ETFs.
Grayscale’s proposal to convert its Solana Trust to an ETF must meet the October 10 deadline for SEC approval, while the Truth Social Bitcoin ETF will be evaluated by September 18.
“A longer period is appropriate to address necessary changes to the proposed rules to allow for careful consideration,” the SEC noted in its documentation.
Per the Securities Exchange Act of 1934, the SEC has 180 days following the publication of proposed rule changes to issue decisions, but it can extend this deadline.
Proposals for the Truth Social Bitcoin ETF were published for comments on June 20, 2025, while Grayscale’s Solana Trust Conversion was published for comments on February 12, 2025.
This recent delay comes amid an extensive review of various cryptocurrency-based ETF applications currently under consideration by the SEC.
In the last few months, regulators seem more open to cryptocurrency but are still proceeding with caution.
With Paul Atkins appointed as SEC chairman under President Donald Trump, the agency appears to be shifting its stance as some earlier skeptics of digital assets exit.
Pending applications include those for ETFs linked to Solana, XRP, and tokens associated with Trump and Dogecoin, all still under review.
It’s common for the SEC to extend deadlines for ETF approvals while also proposing amendments to existing funds; this is just part of the ongoing review process.
On July 16, the agency pushed back the deadline for the Bitwise Bitcoin ETF Trust and Bitwise Ethereum ETF, also introducing physical redemption provisions.
Earlier this summer, the SEC launched a new grayscale fund that tracks prices of Bitcoin, Ethereum, Solana, XRP, and Cardano.
