The U.S. Securities and Exchange Commission (SEC) has delayed its decisions on the applications for exchange-traded funds (ETFs) for XRP, as well as on the applications from Truth Social for Bitcoin and Ethereum.
SEC's Decision on XRP ETFs
The SEC extended the decision-making timeline for the 21Shares and Coinshares applications for the XRP Spot ETF. This decision reflects the need for additional time to analyze the submitted materials.
Truth Social's ETF Application
Similarly, the SEC postponed its decision on Truth Social's application for Bitcoin and Ethereum ETFs. The new deadline for this application, submitted by the social media platform associated with Trump Media & Technology Group, is set for October 8.
Discussion on Crypto and Trump's Relationships
Truth Social's application for a Bitcoin and Ethereum ETF was submitted in June and has received only one comment so far. The application argues that President Donald Trump's close ties to cryptocurrencies might hinder its approval. Trump has invested substantial amounts in cryptocurrencies through his family's ventures, including DeFi projects and stablecoins, as well as the meme coins TRUMP and MELANIA.
The SEC continues to evaluate applications for crypto funds, highlighting the importance of thorough scrutiny and analysis. These decisions may significantly impact the cryptocurrency market.
