In short
The SEC has pushed again its choice on whether or not to approve or deny the Reality Social Bitcoin ETF and Grayscale Solana ETF, in line with a pair of filngs.
Its new deadlines for the Reality 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 choice on whether or not to approve exchange-traded funds tied to Bitcoin and Solana, the company stated 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 Reality 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, in line with 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 Reality 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 adequate time to contemplate the proposed rule change and the problems raised therein,” the SEC wrote within the filings.
Below the Securities Trade Act of 1934, the SEC has 180 days from the publication of a proposed rule change to situation a choice, although the deadline could also be prolonged.
The proposed rule change for the Reality Social Bitcoin ETF was printed for remark within the Federal Register on June 20, 2025. Grayscale’s Solana Belief conversion, in the meantime, was printed for remark within the Federal Register on February 12, 2025.
Latest delays come amid a broader evaluate of cryptocurrency-based ETF functions into consideration by the SEC.
Whereas the regulator has taken a extra crypto-friendly posture in latest months, it continues to maneuver cautiously.
Below President Donald Trump, crypto advocate Paul Atkins was appointed SEC chairman, as a number of skeptics of digital belongings departed the company earlier this 12 months.
Pending functions embody ETFs tied to Solana, XRP, and tokens themed round Trump and Dogecoin, all of which stay below evaluate.
The SEC often extends deadlines on ETF approvals and proposed modifications to current funds, a routine a part of its evaluate 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.
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