📅 July 28 | United States

⏱️ Just when the market was waiting for a clear signal, the SEC kicked the can down the road again. This time, the brakes are on a controversial ETF: the Truth Social Bitcoin ETF, directly linked to Donald Trump's media conglomerate. The regulatory agency decided to delay its verdict and extend the review period until a new date, amid rising political tensions, pro-crypto movements in the Senate, and a heated presidential campaign.

The product, proposed by Truth Social Financial Holdings, was intended to offer investors direct exposure to Bitcoin through a "patriotic" narrative aligned with the new conservative political wave in the US. But now, its approval is on hold... and also controversial.

🧩 What happened to the Trump ETF? A plot where politics, Bitcoin, and regulation intertwine

The U.S. Securities and Exchange Commission (SEC) issued a statement on July 26 confirming that it will postpone its decision on the ETF proposed by Truth Social, the social platform backed by Donald Trump. The product sought to offer regulated exposure to the Bitcoin price and was supported by the World Liberty Forum, an organization that has been pushing for an "anti-Fed and pro-Bitcoin" financial agenda.

The SEC, without providing extensive technical details, stated that more time is needed to evaluate the ETF's impact and its regulatory fit under the current framework. This delay is not entirely surprising, but it does irritate those who see this ETF as an ideological vehicle, as well as a financial one.

Why so much controversy?

1. Trump has made Bitcoin a keynote address in his 2025 campaign, declaring that the dollar needs "honest" competition and that citizens should have decentralized alternatives. 2. The ETF was intended as a tool for “financial independence,” according to its official presentation.

3. Furthermore, it would have been indirectly linked to campaign finance funds and platforms, according to previous investigations.

The proposal was viewed by some regulators as “too politicized.” Added to this is public pressure over other pending approvals, such as the Solana and XRP ETFs, which also carry enormous expectations.

The delay comes just after the Senate passed the Clarity Act in committee, which seeks to limit the SEC's discretion over which assets are securities. In that context, the halt to this ETF fuels suspicions that the SEC is not only evaluating technical criteria… but also balancing politics.

Topic Opinion:

This is not the first time the SEC has delayed a critical decision. But when the product in question involves a polarizing political figure like Trump, the impact is multiplied. Here, it's not just another financial instrument at stake; The narrative of financial freedom that is trying to gain traction in the US political arena is at stake.

💬 Is the SEC being prudent or using its power to curb Trump?

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