SUSPENSE ON WALL STREET! SEC Delays Decision on Truth Social's Bitcoin and Ethereum ETF
The U.S. Securities and Exchange Commission (#SEC ) has once again postponed its decision on the approval of an exchange-traded fund (ETF) proposed by #TruthSocial , the social media platform owned by #TRUMP Media & Technology Group.
The ruling on the company's #bitcoin and #Ethereum ETFs has been postponed until October 8, while other ETFs such as Litecoin and XRP also suffered delays.
The SEC explained in its filings that it needs "sufficient time" to evaluate the proposal. Such postponements are common, as the agency reviews dozens of cryptocurrency ETF applications.
Conflict of Interest Concerns: The Truth Social ETF has generated controversy, with public comment urging the SEC to deny approval due to President Donald Trump's involvement in the cryptocurrency world. Organizations such as AccountableUS express concern that approval could undermine confidence in the markets and in the agency itself.
In addition to the Truth Social ETF, the SEC also postponed decisions on the Litecoin and XRP ETFs from CoinShares and 21Shares until the end of October, indicating a pattern of caution.
