SEC Delays Decisions on Truth Social, Solana and XRP Crypto ETFs
The U.S. Securities and Exchange Commission (SEC) has postponed its rulings on three anticipated cryptocurrency exchange-traded funds (ETFs), extending deadlines into October as the agency continues its cautious approach to digital asset products.
According to filings published on August 18, the regulator will now issue decisions on October 8 for the Truth Social Bitcoin and Ethereum ETF, October 16 for Solana-based ETFs from 21Shares and Bitwise, and October 19 for the 21Shares Core XRP Trust.
The Truth Social ETF, first submitted in late June, is designed as a commodity trust that directly holds Bitcoin (BTC) and Ether (ETH). Despite its branding association with former U.S. President Donald Trump’s social media platform, the fund is structured similarly to other spot crypto ETFs already on the market.
Meanwhile, 21Shares and Bitwise are seeking approval for the first U.S.-listed Solana (SOL) spot ETFs. These funds would allow investors to gain direct exposure to Solana’s market performance without holding the tokens themselves. A separate proposal from 21Shares would launch an XRP-focused trust, which was nearing a 180-day deadline before the SEC granted itself an additional 60 days for review.
October Set to Be a Crucial Month for ETF Rulings
The latest extensions fit into a broader trend: the SEC has consistently used its full review periods when evaluating crypto ETF applications. Many of the pending proposals, including products linked to XRP, Litecoin (LTC), and Dogecoin (DOGE), are now converging toward fall deadlines.
In a separate case, the regulator also pushed back a decision on whether Bitwise can offer “in-kind” redemptions for its Bitcoin and Ethereum ETFs, a mechanism that would allow investors to swap ETF shares directly for crypto instead of cash. That ruling is now expected in September.
Bloomberg ETF analyst James Seyffart noted earlier this year that the SEC rarely issues early approvals, preferring to use the maximum review time available. With most filings clustered around October, the month could prove decisive for the future of altcoin ETFs in the U.S.
Growing ETF Market Dominated by BlackRock
While the SEC deliberates, demand for crypto-linked ETFs continues to surge. The U.S. now has a dozen spot Bitcoin ETFs, several Ethereum products, and an expanding lineup of applications for other tokens. Globally, more than 100 crypto ETFs are already listed.
BlackRock’s iShares Bitcoin Trust remains the clear leader, managing over $87 billion in assets and drawing the lion’s share of inflows. In the first half of the year alone, crypto ETFs worldwide attracted $3.75 billion, underlining the sector’s growing role in mainstream finance.
