The U.S. Securities and Exchange Commission (SEC) has delayed decisions on two crypto ETF applications. The pause affects Truth Social’s Bitcoin ETF and Grayscale’s application to convert its Solana Trust to an ETF. These delays reflect the regulator’s ongoing review of new digital asset investment products.

Truth Social’s Bitcoin ETF Decision Postponed

According to an official SEC filing, the agency has extended its review of Truth Social’s proposed Bitcoin ETF. The company filed an S-1 in June, starting a 45-day evaluation window. The SEC has now moved the decision deadline to September 18. This gives the agency more time to evaluate the application and associated risks.

The SEC’s memo explained, “The Commission finds it appropriate to designate a longer period… so that it has sufficient time to consider the proposed rule change and the issues raised therein.”

Since January 2024, the SEC has approved several spot Bitcoin ETFs. These include major issuers like BlackRock, whose IBIT fund now approaches $100 billion in assets under management. Truth Social’s filing is the latest in a growing line of firms seeking regulatory clearance to enter the ETF market.

I wrote last wk that $IBIT could hit $100b this summer, but hell, could be this month. Thx to recent flows + overnight rally it's already at $88b. At only 1.5yrs old is now 20th biggest in US, 7th biggest for BlackRock (and their #1 most profitable ETF). Un-freaking-believable. pic.twitter.com/r5FLwKSE7j

— Eric Balchunas (@EricBalchunas) July 14, 2025

Grayscale Solana ETF Faces Another Extension

The SEC also delayed its decision on Grayscale’s application to convert its Solana Trust to an ETF. This marks the third delay after prior extensions in March and May. The agency has extended the deadline by 60 days, with a final decision now expected on October 10.

Several companies, including VanEck, 21Shares, and Canary Capital, have also submitted filings for Solana ETFs. These applications reflect increased institutional demand for Solana-based products.

In June, applicants made amendments in response to SEC concerns about in-kind redemptions and staking. Notably, the Rex Osprey SOL Staking ETF reached a milestone of $133 million in assets under management.

SEC Balances Oversight and Market Demand

Bloomberg analysts  Eric Balchunas say the SEC is currently managing 72 outstanding crypto ETF requests, with at least seven already expecting to be granted. Such applications cut across Bitcoin, Solana, Litecoin, Dogecoin, XRP, and Cardano products. Many of its rulings include statutorily imposed deadlines, and the majority of them must be made by the end of 2025.

This precaution on the part of the agency attempts to balance its protection of the investors and their assessment of the dynamic crypto market. Every extension allows SEC further time to evaluate how the proposed ETFs can be checked against the U.S codes on securities and market integrity.