SEC Delays Key Decisions on Crypto ETFs, Impacting Grayscale Solana Trust

In a significant development for the cryptocurrency market, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Truth Social Bitcoin ETF and the Grayscale Solana Trust. This delay, announced on July 29, 2025, extends the review period for these high-profile exchange-traded funds (ETFs) to September 18 and October 10, respectively. The decision comes amid a broader regulatory pause under the new SEC leadership, reflecting ongoing caution in the crypto investment landscape.

The Grayscale Solana Trust, a closed-end investment trust listed on the OTC Bulletin Board, has been closely watched by investors. With a market cap of approximately $107 million and a close price of $14.8 on July 29, 2025, the trust has experienced significant volatility. Its 52-week high was $97.798 in August 2024, while the low reached $7.57 in April 2025. The delay in the SEC’s decision adds another layer of uncertainty for stakeholders.

The Truth Social Bitcoin ETF, backed by Trump Media & Technology Group, is one of several crypto ETFs caught in this regulatory pause. The SEC’s cautious approach, despite recent leadership changes, underscores the complexity of integrating crypto assets into traditional financial frameworks. This delay is part of a pattern observed over the past few months, where the SEC has extended review periods for multiple crypto-based ETF applications.

In related news, PayPal has launched a new payment service for small businesses, utilizing its PYUSD stablecoin. This move highlights the growing integration of cryptocurrencies into mainstream financial services. Additionally, Avalanche has partnered with Grove to bring $250 million in tokenized assets onto its blockchain, signaling increased activity in the tokenization space.

As the SEC continues to navigate the regulatory landscape for crypto investments, market participants are advised to stay informed about these developments. The outcomes of these decisions could have significant implications for the future of crypto ETFs and the broader cryptocurrency market.