US SEC Delays Launch Of Truth Social’s Bitcoin ETF And Grayscale’s Solana ETF

The US Securities and Exchange Commission (SEC) has designated a longer period to review ETF applications from Truth Social and Grayscale. The delay to Truth Social’s Bitcoin ETF and Grayscale’s Solana ETF comes amid rising interest by institutional investors.

SEC Pauses Truth Social’s Bitcoin ETF

According to an official release, the US SEC has disclosed that it will pause its decision on Truth Social’s Bitcoin ETF, extending the period for review. The securities regulator says the delay is to allow the Commission ample time to explore the suitability of the application.

Per the release, the US SEC is now extending the review period till September 18, upon which it will give a decision. The SEC’s memo reveals that it can opt to approve or disapprove the application or institute proceedings to determine its next course of action.

Back in June, Truth Social filed an S-1 for a Bitcoin ETF, kickstarting a 45-day window for the SEC to approve, disapprove, or extend its decision.

“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised theirin,” read the statement.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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