SEC Delays Resolution on Trump-Linked Bitcoin, Grayscale Solana ETFs – Decrypt

Briefly
The SEC has pushed again its resolution on whether or not to approve or deny the Fact Social Bitcoin ETF and Grayscale Solana ETF, based on a pair of filngs.
Its new deadlines for the Fact Social Bitcoin ETF and Grayscale Solana ETF are September 18 and October 10, respectively.
The SEC has delayed choices on a number of crypto-based ETF functions over the previous few months, regardless of its pro-crypto pivot.
The U.S. Securities and Trade Fee has postponed its resolution on whether or not to approve exchange-traded funds tied to Bitcoin and Solana, the company mentioned in separate filings Monday, extending a sample of regulatory warning towards crypto-linked funding merchandise.The SEC will take as much as an extra eight weeks to determine on whether or not to permit the Fact Social Bitcoin ETF to start buying and selling and whether or not to approve the conversion of the Grayscale Solana Belief into an exchange-traded fund, based on the filings.Grayscale’s proposed conversion of its Solana Belief into an ETF now faces an October 10 deadline for a choice by the SEC, whereas the company should rule on the Fact Social Bitcoin ETF utility by September 18.“The Fee finds it acceptable to designate an extended interval inside which to take motion on the proposed rule change in order that it has enough time to think about the proposed rule change and the problems raised therein,” the SEC wrote within the filings.Underneath the Securities Trade Act of 1934, the SEC has 180 days from the publication of a proposed rule change to difficulty a choice, although the deadline could also be prolonged.The proposed rule change for the Fact Social Bitcoin ETF was revealed for remark within the Federal Register on June 20, 2025. Grayscale’s Solana Belief conversion, in the meantime, was revealed for remark within the Federal Register on February 12, 2025.Latest delays come amid a broader overview of cryptocurrency-based ETF functions into account by the SEC.Whereas the regulator has taken a extra crypto-friendly posture in current months, it continues to maneuver cautiously.Underneath President Donald Trump, crypto advocate Paul Atkins was appointed SEC chairman, as a number of skeptics of digital property departed the company earlier this yr.Pending functions embody ETFs tied to Solana, XRP, and tokens themed round Trump and Dogecoin, all of which stay below overview.The SEC steadily extends deadlines on ETF approvals and proposed modifications to present funds, a routine a part of its overview course of.On July 16, the regulator pushed again its deadline to weigh in on including in-kind redemptions to the Bitwise Bitcoin ETF Belief and Bitwise Ethereum ETF.Earlier this summer season, the company additionally held up the debut of a Grayscale fund monitoring the costs of Bitcoin, Ethereum, Solana, XRP, and Cardano.Each day Debrief NewsletterStart each day with the highest information tales proper now, plus unique options, a podcast, movies and extra.