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The US Securities and Exchange Commission (SEC) has delayed a decision on the Truth Social Bitcoin and Ethereum ETF, a Trump Media & Technology Group product that critics say raises conflict of interest concerns given President Donald Trump’s involvement.
According to a filing, the new deadline is now set for October 8, while the SEC continues to review several other pending crypto ETF applications.
The first deadline was set for August 4, then moved to September 18, and is now delayed again to October 8. The Bitcoin and Ethereum ETF, proposed in June, has received only one public comment so far, calling for rejection because of Donald Trump’s involvement in crypto.
🚨BREAKING:
The SEC has delayed President Trump’s Truth Spot $BTC & $ETH ETF. pic.twitter.com/KSCFEZUd9o
— Grey BTC (@greybtc) August 18, 2025
The SEC’s delay of the ETFs is a normal part of the review process. By law, the agency can extend deadlines several times, taking up to 240 days before making a final decision. During this time, the SEC also accepts public comments from investors, experts, and market participants.
In the past two years, many Bitcoin and Ethereum ETFs have gone through the same process before approval. Analysts say the SEC is being cautious, trying to balance strong investor demand with the need to keep markets stable and well-regulated.
The SEC’s approach to crypto ETFs has shifted since Trump took office. Under new leadership, the regulator has approved rules letting authorized participants create and redeem crypto ETFs in-kind. It also began allowing applications to list and trade spot Bitcoin and Ethereum ETFs, as well as options on certain spot Bitcoin funds.
SEC Delays More Crypto ETF Decisions
The SEC has delayed decisions on several crypto funds in addition to the Truth Social Bitcoin and Ethereum ETF. These include the CoinShares Litecoin ETF, CoinShares XRP ETF, and the 21Shares Core XRP ETF, now due in October.
The regulator also postponed rulings on the Canary XRP Trust, Grayscale XRP Trust, and a plan to allow staking in the 21Shares Core Ethereum ETF. These delays show that crypto ETFs are expanding beyond just Bitcoin and Ethereum, giving investors new ways to access the market without directly owning coins.
However, the SEC is moving cautiously, carefully reviewing risks such as liquidity, custody, and possible market manipulation. By pushing back these deadlines, the SEC signals that it is still weighing the pros and cons of opening the door to a wider range of crypto-based funds.
For investors, the delay means more waiting and uncertainty. However, some analysts believe the extra time could be a positive sign, suggesting the SEC is carefully considering approval instead of rejecting the proposals outright.
Trump’s Crypto ETF Plans Stir Political Debate
The SEC has delayed its decision on the Truth Social ETF as questions grow about the Trump family’s deepening involvement in the crypto space.
Trump has engaged in several crypto-related business ventures that have contributed significantly to his wealth. The file proposal has also sparked debate in Washington, with critics warning of conflicts of interest and supporters insisting politics should not block innovation.
World Liberty Financial, co-founded by Trump and his sons, has reportedly made $390 million for him, while his $TRUMP meme coin brought in about $315 million through licensing deals and price moves.
Trump’s Crypto Revolution: Innovation or Political Gamble?
The Trump administration has moved faster on crypto than any U.S. government before – rolling out policies that were unthinkable just a year ago.
In months, we’ve seen:
✅The GENIUS Act – regulating stablecoins -… pic.twitter.com/GUDfU4462S
— Tzahi Kanza (@tzahi_kanza) August 15, 2025
Last month, his administration put out a 166-page plan for US leadership in digital assets. If the ETFs are approved, they would be the first crypto ETFs tied to a president’s business.
Trump Media has also filed for a “Crypto Blue Chip ETF,” which would comprise 70% Bitcoin, 15% Ethereum, 8% Solana, 5% XRP, and 2% Cronos.
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