According to breaking news, the SEC has postponed its decision on the Trump-linked Truth Social Bitcoin Spot ETF application. The SEC has also postponed its decision on the Grayscale Solana Spot ETF.
Truth Social filed for a Truth Social Bitcoin ETF in June. Its approval would further deepen Trump-related crypto activities, following his forays into the crypto space, including memecoin initiatives and his family-backed decentralized finance (DeFi) project, World Liberty Financial.
In January 2024, the SEC granted its first approval to spot Bitcoin ETFs in the US. The 12 different Bitcoin ETFs approved to date have generated over $54.8 billion in total inflows, making them one of the most successful ETF categories ever. The Commission has also allowed listings for Ethereum ETFs, but continues to delay decisions on spot altcoin ETFs.
The SEC also announced that it has postponed its decision on Grayscale's Solana Trust application until October 10. Other applicants seeking approval for the Solana ETF include Canary, Bitwise, 21Shares, and VanEck.
However, no spot Solana ETF has yet been approved through the same process that other spot ETFs have gone through.
*This is not investment advice.
