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SEC delayed its decision on Truth Social’s Bitcoin and Ethereum ETF until Oct. 8.
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Decisions on Litecoin and XRP ETFs were also pushed back.
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Concerns raised over Trump’s personal involvement in crypto.
Routine Delays Filed
The SEC announced another delay on Monday regarding Truth Social’s proposed Bitcoin and Ethereum ETF, setting October 8 as the next decision deadline. Delays were also filed for CoinShares’ Litecoin and XRP ETFs, and the 21Shares Core XRP ETF.
Political and Market Context
The Truth Social ETF, first proposed in June, has drawn scrutiny due to Donald Trump’s ties to the crypto industry. Critics argue that approving the ETF could undermine trust in both financial markets and the SEC’s independence.
Regulatory Shift
The SEC under Trump has shown a more open approach to crypto ETFs, previously allowing in-kind creations, spot Bitcoin and Ethereum ETFs, and even options on certain spot products. This marks a shift from the Biden administration, which was slower to approve such products until forced by court rulings.
