US SEC postpones Bitcoin ETF review for Trump Media

## Postponed until September

On the 28th, the U.S. Securities and Exchange Commission (SEC) announced that it would postpone its decision on the approval of the Bitcoin spot ETF applied for by Trump Media & Technology Group's Truth Social. The deadline for the decision has been extended to September 18, allowing sufficient time for consideration of the proposed rule changes.

The Truth Social Bitcoin ETF was filed in June and will be managed by Yorkville Asset Management. It aims to track the spot price of Bitcoin, with Bitcoin held in custody by Foris DAX Trust Company as the primary asset.

This ETF is positioned as part of the financial strategy of President Trump's social media platform operating company. Through a partnership with the cryptocurrency exchange Crypto.com and Yorkville America Digital, it plans to offer multiple investment products under the "Truth Fund" brand.

The planned products will focus on "Made in America" and will consist of cryptocurrency-related stocks, Bitcoin, and altcoins. If approved, the Trump family's cryptocurrency activities are expected to expand further, making it possible to use them in international markets, including the United States, Europe, and Asia.

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