Overview

• The SEC pushed back its decision on the Truth Social Bitcoin ETF to September 18, 2025, under the standard 240-day review period.
• A parallel filing delays the SEC’s ruling on Grayscale’s conversion of its Solana Trust into an ETF until October 10, 2025.
• Chair Paul Atkins has paused multiple crypto ETF applications and has engaged issuers on issues such as staking mechanics and in-kind redemptions.
• Truth Social’s Bitcoin ETF proposal from Trump Media & Technology Group would be the first crypto product tied directly to President Donald Trump’s business interests.
• Trump Media has broadened its filings with a Bitcoin-Ethereum ETF proposal and the Truth Social Crypto Blue Chip ETF.