The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the proposed Truth Social Bitcoin ETF, extending its review period until at least September 18.
The delay comes as part of the agency’s standard evaluation process, allowing more time to scrutinize the application submitted by NYSE Arca on behalf of Yorkville America Digital, in partnership with Trump Media and Technology Group (TMTG).
In a notice issued Monday, the SEC stated it needed additional time to consider the proposal and any issues raised during the review period. While no formal objections have been lodged, the fund’s affiliation with TMTG—majority-owned by President Donald Trump via a trust managed by Donald Trump Jr.—has raised concerns about potential political entanglements and conflicts of interest. If approved, the fund would mark the first crypto ETF directly tied to the business interests of a current U.S. presidential candidate.
Initially slated for an August 4 decision, the proposed exchange-traded fund will now face a 45-day delay under the SEC’s commodity-based trust share framework. Current rules permit the Commission to take up to 240 days from the initial filing date to either approve or reject an ETF proposal. The Truth Social Bitcoin ETF was filed on June 3.
The Truth Social Bitcoin ETF is one of several crypto-related proposals currently facing regulatory delays. The SEC also postponed its decision on Grayscale’s proposed Solana Trust until October 10 and delayed Canary Capital’s application for a Litecoin ETF.
Trump Media isn’t stopping at just one fund. The company has two additional ETF proposals under review. The first is a dual-asset Truth Social Bitcoin and Ethereum ETF, filed on June 24, which would allocate 75% of assets to Bitcoin and 25% to Ethereum, with Foris DAX Trust Company, affiliated with Crypto.com, acting as custodian.
The second is a broader Truth Social Crypto Blue Chip ETF, which would offer investors exposure to a diversified basket of top cryptocurrencies, including Bitcoin, Ethereum, Solana, Cronos, and XRP.
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