SEC Delays Truth Social and Solana ETF Decisions to Q4

• The SEC has delayed multiple crypto ETF applications, including Truth Social’s Bitcoin ETF and Grayscale’s Solana Trust, pushing decisions into Q4 2025.
• Despite delays, the REX-Osprey SOL Staking ETF launched successfully in July, offering Solana exposure with staking rewards.
• Bloomberg Intelligence assigns 95% approval odds to upcoming SOL and XRP ETF applications, signaling strong institutional momentum.

The SEC has once again delayed a batch of crypto ETF applications, postponing hopes of new ETFs in the digital assets industry for the last quarter of the year. The Commission pushed several ETF applications this week, alleging it may need more time to consider the request. 

Last month, the Trump family-tied social media corporation “Truth Social” requested with the SEC to create a new Bitcoin exchange-traded fund (ETF). The initial deadline for review was on August 4th, but on July 28, the Commission alluded that it needed more time to review applications, pushing the deadline to September 18. 

However, Trump’s ETF requests weren’t the only ones to get pushed back by the SEC. Grayscale’s Solana Trust, an application that has been pending approval since January of this year, was once again postponed, now with a deadline for October 10. 

While the Commission has yet to approve a Solana-based ETF application, it has greenlit a very similar product in July. The SOL staking ETF by  REX Shares and Osprey Funds was launched this month on U.S. markets, and it combines Solana exposure with staking rewards for improved profits. 

So, while the SEC continues to push application deadlines further, there is still a strong sense that the Commission will eventually approve new crypto ETF applications this year. 

According to a Bloomberg Intelligence analysis from earlier this year, the odds of new crypto ETF approvals happening this year are still high. SOL applications from filers Grayscale, VanEck, Bitwise, 21Shares, and Canary Capital receive a 95% approval odds, likewise for XRP ETF applications by issuers like BitWise, 21Shares, Canary Capital, and WisdomTree. 

Nearly all requests are now postponed to past October, meaning that the SEC will have more time to review applications and align its decisions with broader regulatory developments.

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