The US SEC delays the approval decision for Truth Social Bitcoin ETF and Grayscale Solana ETF

ChainCatcher news, according to Decrypt, the U.S. Securities and Exchange Commission (SEC) announced on Monday that it is delaying its approval decisions for the Truth Social Bitcoin ETF and the Grayscale Solana Trust ETF in two separate documents. According to the latest schedule, the SEC will make a final ruling on the Truth Social Bitcoin ETF by September 18, while the deadline for the Grayscale Solana Trust ETF's approval has been extended to October 10.

This delay continues the SEC's consistent cautious regulatory approach towards cryptocurrency-related investment products. Although the SEC has recently shown a relatively open stance towards the cryptocurrency sector, it has postponed approval decisions for multiple crypto ETF applications several times over the past few months. Grayscale is seeking to convert its existing Solana Trust into an exchange-traded fund, while the Truth Social Bitcoin ETF is a new Bitcoin investment product associated with Trump's social media platform.

Market analysts point out that the approval results for these two ETFs will provide an important indicator for assessing the SEC's regulatory stance on innovative cryptocurrency investment products.