The post ETF News Today: SEC Extends Deadline of Truth Social Bitcoin ETF to September 18 appeared first on Coinpedia Fintech News

The US Securities and Exchange Commission (SEC) released a notice on Monday, announcing that it has delayed decisions on Truth Social Bitcoin ETFs and Grayscale’s Solana Trust. It has extended the review deadline to September 18. 

SEC Delays Decision on Truth Social Bitcoin ETF

The Truth Social ETF, backed by the Trump Media and Technology Group, seeks SEC approval to be listed on the NYSE Arca Exchange. The fund application was submitted on June 3 and is still in the early stages. 

Originally, the decision-making on Truth Social Bitcoin exchange-traded fund (ETF) was set to release on August 4. However, the SEC delayed the review period by 45 days. The agency said that the extended period will allow them to review the proposal and consider public comments. 

The SEC wrote in the notice, “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 therein.” 

.article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; }

.entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; }

.entry ul.article-inside-link li:last-child { display: none; }

  • Also Read :
  •   Trump-Backed WLF Buys $1M More in Ethereum: Reports
  •   ,

Crypto Ties and Political Concerns Jumble 

President Trump has doubled his wealth in a year with his crypto ties. If the SEC approves the Truth Social ETF, it will become the first crypto-related fund tied to a US president. Many democrats have voiced their concerns. Some crypto experts even said that Trump’s ties with cryptocurrency could cause a conflict of interest. 

Senator Jeff Merkley said, “Allowing Trump to create a Bitcoin ETF is opening the door to abuse of power. He can influence the regulation and then profit from it.”

SEC approved spot Bitcoin ETFs earlier this year, but now it is delaying the decision for the Truth Social ETF. This reflects its hesitation about broader challenges in the crypto regulatory space. 

Additionally, Grayscale’s proposed conversion of its Solana Trust into an ETF is now pushed to October 10 for SEC approval. 

.article_register_shortcode { padding: 18px 24px; border-radius: 8px; display: flex; align-items: center; margin: 6px 0 22px; border: 1px solid #0052CC4D; background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%); }

.article_register_shortcode .media-body h5 { color: #000000; font-weight: 600; font-size: 20px; line-height: 22px; text-align:left; }

.article_register_shortcode .media-body h5 span { color: #0052CC; }

.article_register_shortcode .media-body p { font-weight: 400; font-size: 14px; line-height: 22px; color: #171717B2; margin-top: 4px; text-align:left; } .article_register_shortcode .media-body{ padding-right: 14px; }

.article_register_shortcode .media-button a { float: right; } .article_register_shortcode .primary-button img{ vertical-align: middle; width: 20px; margin: 0; display: inline-block; }

@media (min-width: 581px) and (max-width: 991px) { .article_register_shortcode .media-body p { margin-bottom: 0; } }

@media (max-width: 580px) { .article_register_shortcode { display: block; padding: 20px; }

.article_register_shortcode img { max-width: 50px; }

.article_register_shortcode .media-body h5 { font-size: 16px; }

.article_register_shortcode .media-body { margin-left: 0px; }

.article_register_shortcode .media-body p { font-size: 13px; line-height: 20px; margin-top: 6px; margin-bottom: 14px; }

.article_register_shortcode .media-button a { float: unset; }

.article_register_shortcode .secondary-button { margin-bottom: 0; } }

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

.subscription-options li { display: none; } .research-report-subscribe{ background-color: #0052CC; padding: 12px 20px; border-radius: 8px; color: #fff; font-weight: 500; font-size: 14px; width: 96%; } .research-report-subscribe img{ vertical-align: sub; margin-right: 2px; }

var templateIds = “6”; var listOfSubscribed = [];

function subscribed_popupmodal(template_id) { var templateId = ‘6’; getAllSubscriberCategoryList([templateId]); var subcribemodal = window.parent.document.getElementById(‘subscribe-modal-design’); if (subcribemodal) { var modalContent = `

Subscribe Now `; subcribemodal.innerHTML = modalContent; } subscribe_unsubscribe_status(template_id); //getAllSubscriberCategoryList(template_id); }

function toggleSubscription(subscription, template_id) { var subscriptionCheckbox = document.getElementById(subscription + ‘_’ + template_id); var li = document.getElementById(subscription + ‘Selected_’ + template_id); if (subscriptionCheckbox.checked) { li.classList.add(‘active’); } else { li.classList.remove(‘active’); } }

function getAllSubscriberCategoryList(getcategoryId) { jQuery.ajax({ url: ‘https://coinpedia.org/wp-admin/admin-ajax.php’, type: ‘GET’, data: { action: ‘subscribe_api_ajax_request’, apiurl: ‘/app/email_newsletter/list’, }, success: function(response) { var result = JSON.parse(response.message);

if (result.status === true) { var idstosubscribed = [] // Populate listOfSubscribed with subscribed category IDs result.message.forEach(listofcategory => {

if (listofcategory.subscribe_status === 1) { if (!listOfSubscribed.includes(listofcategory._id)) {

listOfSubscribed.push(listofcategory._id); }

if (!idstosubscribed.includes(listofcategory.news_cp_category_row_id)) { idstosubscribed.push(listofcategory.news_cp_category_row_id); } } });

idstosubscribed.forEach(id => { var subscribeButton = document.getElementById(‘subscribe_’ + id); var unsubscribeButton = document.getElementById(‘unsubscribe_’ + id);

if (subscribeButton && unsubscribeButton) { subscribeButton.style.display = ‘none’; unsubscribeButton.style.display = ‘block’; var showDownloadReport = document.getElementById(‘download_report’);

if (showDownloadReport) { showDownloadReport.style.display = ‘block’; } } }); }

}, error: function(xhr, status, error) { console.error(‘Error:’, error); } }); }

function subscribe_unsubscribe_status(getcategoryId) { var elementTounsubscribe = parent.document.getElementById(‘unsubscribe_’ + getcategoryId); var elementTosubscribe = parent.document.getElementById(‘subscribe_’ + getcategoryId); jQuery.ajax({ url: ‘https://coinpedia.org/wp-admin/admin-ajax.php’, type: ‘POST’, data: { action: ‘subscribe_api_ajax_request’, apiurl: ‘/app/email_newsletter/list?category_row_id=’ + getcategoryId, }, success: function(response) { var result = JSON.parse(response.message); if (result.status === true) { parent.jQuery(‘.skeliton-loader-block’).hide(); var hasSubscribeStatusOne = false; result.message.forEach(subscribeStatus => { if (listOfSubscribed.includes(subscribeStatus._id) && subscribeStatus.subscribe_status === 1) { hasSubscribeStatusOne = true; } if (subscribeStatus.notification_type === 3) { parent.document.getElementById(‘monthlySelected_’ + getcategoryId).style.display = ‘block’; parent.document.getElementById(‘monthly_’ + getcategoryId).setAttribute(‘data-id’, subscribeStatus._id); if (subscribeStatus.subscribe_status === 1) { parent.document.getElementById(‘monthly_’ + getcategoryId).checked = true; } } else if (subscribeStatus.notification_type === 2) { parent.document.getElementById(‘weeklySelected_’ + getcategoryId).style.display = ‘block’; parent.document.getElementById(‘weekly_’ + getcategoryId).setAttribute(‘data-id’, subscribeStatus._id); if (subscribeStatus.subscribe_status === 1) { parent.document.getElementById(‘weekly_’ + getcategoryId).checked = true; } } else if (subscribeStatus.notification_type === 1) { parent.document.getElementById(‘dailySelected_’ + getcategoryId).style.display = ‘block’; parent.document.getElementById(‘daily_’ + getcategoryId).setAttribute(‘data-id’, subscribeStatus._id); if (subscribeStatus.subscribe_status === 1) { parent.document.getElementById(‘daily_’ + getcategoryId).checked = true; } } if (subscribeStatus.subscribe_status === 1) { listOfSubscribed.push(subscribeStatus._id); } }); if (hasSubscribeStatusOne) { elementTosubscribe.style.display = ‘none’; elementTounsubscribe.style.display = ‘block’; } else { elementTosubscribe.style.display = ‘block’; elementTounsubscribe.style.display = ‘none’; } } }, error: function(xhr, status, error) { console.error(‘Error:’, error); } }); }

function logSelectedSubscriptions(categoryid) { var unsubscribemodal = document.querySelector(‘.unsubscribed-popup-modal .modal’); var subscribedmodal = document.querySelector(‘.subscribed-popup-modal .modal’); unsubscribemodal.innerHTML=”; subscribedmodal.innerHTML=”; var selectedSubscriptions = []; var storeCheckedId = []; var checkboxes = document.querySelectorAll(‘#subscription-options-‘ + categoryid + ‘ input[type=”checkbox”]’); var errorMessage = document.getElementById(‘error-message-select’);

// Use a Set to handle unique data-ids var uniqueSubscribedIds = new Set(listOfSubscribed);

checkboxes.forEach(function(checkbox) { var dataId = parseInt(checkbox.getAttribute(‘data-id’)); if (checkbox.checked) {

selectedSubscriptions.push(checkbox.id); storeCheckedId.push(dataId); } else {

uniqueSubscribedIds.delete(dataId); // Remove unchecked data-id } });

// Update listOfSubscribed with unique values listOfSubscribed = Array.from(uniqueSubscribedIds);

var selectedSubscriptionsString = selectedSubscriptions.join(‘, ‘); var concatinateSubscribeId = […new Set(storeCheckedId.concat(listOfSubscribed))];

var categoryData = { ‘subscribed_categories’: concatinateSubscribeId };

var requestSubscriberData = { action: ‘handle_dynamic_api_request_with_headers’, security: ‘449a2f6d12’,

endpoint: ‘/app/email_newsletter/update_categories’, token: ”, data: categoryData };

jQuery.ajax({ url: ‘https://coinpedia.org/wp-admin/admin-ajax.php’, type: ‘POST’, data: requestSubscriberData, beforeSend: function(xhr) { xhr.setRequestHeader(‘X-Requested-With’, ‘XMLHttpRequest’); }, success: function(response) { try { response = response.data;

if (storeCheckedId.length === 0) { var unsubcribedPopUpmodal =

`; unsubscribemodal.innerHTML = unsubcribedPopUpmodal; document.querySelector(‘#subscribe-modal-design .modal’).style.display = ‘none’; unsubscribemodal.style.display = ‘block’; unsubscribemodal.classList.remove(‘hide’); unsubscribemodal.classList.add(‘show’); document.getElementById(‘subscribe_’ + categoryid).style.display = ‘block’; document.getElementById(‘unsubscribe_’ + categoryid).style.display = ‘none’; var showDownloadReport = document.getElementById(‘download_report’); if (showDownloadReport) { showDownloadReport.style.display = ‘none’; }

FAQs

Why did SEC delay Truth Social Bitcoin ETF?

SEC extended review period to Sept 18, citing need for more time to evaluate proposal and public comments on Trump-linked crypto ETF.

When will SEC decide on Grayscale Solana ETF?

Grayscale’s Solana Trust ETF decision delayed to Oct 10, following similar postponement of Truth Social Bitcoin ETF review.

Why are Democrats opposing Trump’s Bitcoin ETF?

Critics warn of conflict of interest as Trump’s crypto investments doubled his wealth; Senator Merkley calls it “abuse of power.”