The US Securities and Exchange Commission (SEC) Delayed its Ruling on the Truth Social Bitcoin-Ethereum ETF
The US Securities and Exchange Commission (SEC) delayed its ruling on the Truth Social Bitcoin-Ethereum ETF. In a notice filed on August 18, the agency moved the deadline to October 8.
The Truth Social Bitcoin-Ethereum ETF, submitted on June 24, is structured as a commodity-based trust. It would hold Bitcoin (BTC $115,318) and Ethereum (ETH $4,235) directly and issue shares backed by those assets. Although branded under Donald Trump’s Truth Social, the fund follows the same structure as other spot Bitcoin and Ethereum ETFs already trading in the US.
Bloomberg ETF analyst James Seyffart said in May that the SEC “typically takes the full time to respond to a 19b-4 filing,” adding that “almost all of these filings have final due dates in October.”
SEC Postpones Solana ETF Decision
The SEC also pushed back decisions on the first Solana ETFs proposed in the US. 21Shares and Bitwise filed these applications through the Cboe BZX Exchange, and the regulator set a new deadline of October 16.
The Solana ETFs would hold Solana (SOL $179.69) tokens directly. They aim to provide investors with exposure to Solana’s market value under regulated conditions.
In March, the SEC delayed reviews of several other altcoin ETF proposals. These included funds tied to XRP, Litecoin (LTC $116.48), and Dogecoin (DOGE $0.2173). The agency placed those products under the same timeline of fall reviews.
SEC Extends XRP ETF Review
A separate filing by 21Shares seeks approval for the Core XRP Trust. The fund would hold XRP ($3.01) and track its price performance. The initial application was filed in February and later amended. The trust was nearing its 180-day deadline on August 20, but the SEC granted itself an extra 60 days, setting the new date as October 19.
The XRP ETF review now aligns with other pending applications. These include the Truth Social Bitcoin-Ethereum ETF and the Solana ETFs. All fall under the same extended review cluster the SEC is managing this year.
SEC Extends Other ETF Reviews
The SEC has extended several crypto ETF reviews in 2025. Among them is Bitwise’s request to allow in-kind creations and redemptions for its spot Bitcoin and Ethereum ETFs. That decision now falls in September.
Currently, the US market hosts a dozen spot Bitcoin ETFs and multiple Ethereum ETFs. However, new applications for Solana ETFs and the XRP ETF remain under review. Globally, more than 100 crypto ETFs are listed across exchanges.
Within the crypto ETF market, BlackRock’s iShares Bitcoin Trust dominates. The fund has more than $87 billion in assets under management (AUM), far ahead of other issuers. Its size and liquidity make it the leading product in the US market.
Other ETF products remain smaller, but October deadlines will decide the status of multiple pending filings. These include the Truth Social Bitcoin-Ethereum ETF, the Solana ETFs, and the XRP ETF.