SEC Delays Truth Social Bitcoin ETF, 92 Crypto Funds Await

The SEC’s postponement of the Truth Social Bitcoin ETF marks a significant development in the ongoing regulatory evaluation of cryptocurrency investment products. Filed in June 2025 by NYSE Arca on behalf of Trump Media and Technology Group (TMTG), the proposal would establish a commodity-based trust under Rule 8.201-E, holding Bitcoin directly and tracking the crypto asset’s price minus fees and expenses. Yorkville America Digital, LLC is listed as the sponsor, with trading planned for NYSE Arca if approved.

Trump Media has expanded its crypto ambitions beyond the Bitcoin ETF, submitting applications for two additional products currently under active SEC evaluation. The Truth Social Crypto Blue Chip ETF, filed in July 2025, proposes a basket of five digital assets including BTC, ETH, SOL, CRO, and XRP. A separate fund designed to provide exposure to BTC and ETH has also been submitted, with the SEC moving its decision on this combined fund to October 8 while maintaining active evaluation status for the Blue Chip ETF.

The Truth Social decision represents just one of more than 92 crypto ETF applications currently pending with the SEC, creating a substantial backlog that affects some of the largest names in finance. Under new Chair Paul Atkins, the regulator has implemented a pattern of postponements, with many decisions expected in October once a generic listing framework is finalized. This systematic approach suggests the SEC is developing comprehensive standards for crypto ETF approvals rather than evaluating each application in isolation.

Major financial institutions are experiencing significant delays across multiple cryptocurrency products. Franklin Templeton’s SOL and XRP ETFs have been pushed to November 14 after the SEC used its full 60-day extension authority. BlackRock’s iShares ETH Trust has been rescheduled to October 30 following a 45-day extension period. The 21Shares SOL and XRP ETFs now face new deadlines of October 16 and 19, while WisdomTree’s XRP Fund, filed through Cboe BZX, has been moved to October 24 under prolonged review.

The delays extend beyond major cryptocurrencies to include altcoin and meme-based products. Grayscale’s HBAR Trust and Bitwise’s DOGE ETF have seen their decision dates changed to November 12, indicating the SEC is applying consistent scrutiny across the entire spectrum of digital asset products regardless of their market capitalization or popularity.

The change in SEC leadership under the Trump administration has created speculation about a potential shift in regulatory approach toward cryptocurrency ETFs. While the current delays demonstrate continued caution, analysts like Nate Geraci, president of NovaDius Wealth Management, have predicted an imminent surge in approvals for altcoin ETFs in the next two months. This optimism stems from the new administration’s generally more favorable stance toward cryptocurrency innovation and investment products.

The SEC’s decision to open the Truth Social Bitcoin ETF proposal for public comments represents a standard regulatory procedure that allows for broader market input before making final determinations. This process, combined with the development of a generic listing framework, suggests the agency is working toward establishing clear, consistent standards for crypto ETF approvals rather than rejecting applications outright. The outcome of these numerous pending decisions will significantly impact how traditional investors access cryptocurrency markets and could set precedents for future digital asset investment products.