Key Insights:

• The SEC has postponed its decision on the Truth Social Bitcoin ETF until September 18.
  
• The ETF is part of Donald Trump’s push into the crypto sector through Truth Social and other ventures.
• New SEC Chair Paul Atkins is reviewing key crypto ETF issues, including staking and in-kind redemptions.
  

The U.S. Securities and Exchange Commission (SEC) has delayed a final decision on the Bitcoin exchange-traded fund (ETF) proposed by Trump Media & Technology Group. 

According to a filing published Monday, the SEC has extended the review period until September 18 and says it needs more time to consider the application.

Trump’s Crypto Agenda

The Truth Social Bitcoin ETF was filed in June. If approved, it would have massively increased Trump’s influence in the digital asset space. The application was also in line with his administration’s crypto-forward stance, as opposed to the Biden-era strictness.

However, the SEC has now pushed its final decision forward into the future with speculation now running hot over which ETFs will be first to be approved.

SEC Delays Decision on Trump’s Truth Social Bitcoin ETF Application

The U.S. Securities and Exchange Commission (@SECGov) has postponed its decision on the spot Bitcoin $ETF application submitted by Truth Social, the social media platform backed by former President Donald Trump.… pic.twitter.com/jbbfTkYPSQ

— MetaEra (@MetaEraHK) July 28, 2025

Since reentering the White House in January, Trump has appointed Paul Atkins, a known crypto supporter as SEC Chair amid public promises to turn the U.S. into a hub for digital assets.

So far, the ETF is not Truth Social’s only crypto venture. The company has also filed for other products including the Truth Social Crypto Blue Chip ETF and a dual Bitcoin and Ethereum ETF.

More Than Just One ETF

The Truth Social ETF delay isn’t an isolated case. Several other crypto ETF applications are also on hold, amid a wider freeze by the SEC under its new leadership. On the same day, the agency also postponed decisions on Grayscale’s Solana Trust Canary and Capital’s Litecoin ETF

These delays show the ongoing internal discussions within the SEC, especially around sensitive topics like staking mechanisms and in-kind redemptions. These technical issues are especially important for ETFs based on more complex altcoins like Solana (SOL) and Litecoin (LTC).

According to Insiders, the SEC tends to use the full 270-day window it is allowed to assess ETF proposals, especially for new or hyped-up cases like this one.

An ETF Market That’s Already Thriving

While the SEC delays new ETF launches, the current collection of approved Bitcoin ETFs is on the move. Since January of last year, all twelve spot Bitcoin ETFs have thrived within the U.S.

So far, they have collectively attracted over $54.8 billion in inflows. These funds have become some of the best-performing investment vehicles in recent memory.

In addition, the SEC has greenlit Ethereum exchange-traded funds, giving investors more ways to gain exposure to major cryptocurrencies. However, the agency continues to stall decisions on other altcoin-related funds, and is drawing criticism from parts of the crypto community for slowing innovation.

A Strategic Delay?

Chairman Paul Atkins is believed to be treading softly. Sources close to the agency say that Atkins has paused all approvals as his team performs a thorough review of staking models and redemption structures. 

These issues apply especially to newer blockchains like Solana, where staking is a big part of how the network operates.

This regulatory pause also allows Atkins more time to give fund managers more clarity on what they need to meet before receiving approval.

Truth Social’s Crypto Play: Risk or Opportunity?

For Trump Media & Technology Group, the delay is just a temporary hurdle. The new decision deadline is set for September 18, and all eyes are now on the SEC. Whether the Truth Social Bitcoin ETF is approved or denied, the decision will likely have implications not just for Trump, but also for the broader U.S. crypto space.