SEC Delays Decision on Truth Social ETFs Amid Political Scrutiny

Trump’s Expanding Crypto Footprint

According to the Bloomberg Billionaires Index, Trump’s net worth remains around $6.4 billion, with nearly $620 million tied to digital assets — from DeFi projects to branded meme coins. With TMTG’s stock down nearly 50% since January, critics argue that an ETF approval could serve as a financial lifeline for the company.

The timing is especially sensitive, as the decision will land in the thick of the U.S. presidential campaign cycle, intensifying scrutiny over whether the SEC can remain impartial.

October: A Pivotal Month for Crypto ETFs

The Truth Social ETF is not the only product awaiting review. The SEC also delayed decisions on:

• 21Shares’ and Bitwise’s Solana ETFs (deadline October 16)
• 21Shares Core XRP Trust (deadline October 19)

These products join a wave of crypto ETF filings clustered for resolution this fall. In March, the SEC also delayed rulings on applications tied to XRP, Litecoin, and Dogecoin, underscoring how October could become a defining month for U.S. crypto markets.

A Balancing Act for the SEC

The SEC faces a dilemma: approving the Truth Social ETF could spark accusations of favoritism toward a sitting president’s business interests, while rejection could trigger charges of political bias.

At the same time, the agency’s stance on crypto ETFs has softened in recent years. In July 2025, the SEC approved rule changes allowing in-kind creations and redemptions for crypto ETFs, a significant shift from the Biden-era SEC, which only moved on spot Bitcoin and Ethereum ETFs after court mandates.

As critics and supporters wait for October, the decision on the Truth Social ETF could become a test case not only for crypto regulation, but for the SEC’s ability to navigate the increasingly blurred line between finance and politics.