The American Securities and Exchange (SEC) commission has rejected its decision on the advisability of approving a negotiated fund in exchange (ETF) proposed by Truth Social, the social media platform affiliated with Donald Trump.
The delay, announced on Monday, gives the agency until September 18 to decide whether to approve the FNB Truth Social Bitcoin. The request for funds was submitted in June by Trump Media & Technology Group, who operates the social platform and has more and more positioned as an actor in the cryptography market.
The Bitcoin Fund of Truth Social is one of the many FNB Crypto taken in a broader regulatory break from the new president of the SEC, Paul Atkins. On Monday, the Atkins team also postponed decisions to the Grayscale Solana Trust and the Litecoin ETF proposed by Canary Capital.
This is the last in a series of posts from the dry under the new president Paul Atkins. The SEC generally takes the maximum duration – 270 days – to approve ETF applications. Behind the scenes, the agency was in talks with fundraising on the main snack points such as the establishment and mechanics of redemptions in kind – in particular those related to ETF applications based on Solana, reported Coindesk previously.
The FNB Bitcoin of Truth Social occurs a year and a half after the SEC, under former president Gary Gensler, Greenlit, a lot of FNB Bitcoin Spot which collectively attracted more than $ 55 billion in investor entries since their launch in January.
In her Monday file, the SEC said that she extended the examination period for the Truth social Bitcoin FNB to “allow enough time to consider the proposed change of rule and the questions raised there”.
Truth Social also pursues additional cryptography products. The company recently filed an FNB Truth Social Crypto Blue Chip and a Dual Bitcoin and ETF ETF.
