The SEC delayed decisions on the Truth Social Bitcoin ETF and Grayscale’s Solana Trust, extending review periods as the US Congress moves with crypto regulation. The US Securities and Exchange Commission (SEC) on Monday delayed its decision on the proposed Truth Social Bitcoin exchange-traded fund (ETF), extending the review deadline to Sept. 18 from Aug. 4. The fund, backed by the Trump Media and Technology group, is seeking approval to list the Truth Social Bitcoin ETF on the NYSE Arca exchange under the SEC’s commodity-based trust share framework. The agency, which can take up to 270 days to approve or reject ETF applications, said it extended the review period to allow more time to evaluate the proposal and any issues raised. Read more
ETH treasury buying and consistent spot ETF inflows have not been sufficient enough to send Ether price above $4,000. Is a correction incoming? Key point: Traders expect ETH to retest the $3,500 to $3,300 zone before a break to new year-to-date highs. Ether (ETH) gained 57% over the past month, but consistent selling near $4,000 is putting a cap on the price upside. Independent market analyst Adam pointed to sell walls in the zone and said that even though “ETH is so back,” its price could lose momentum until these are either filled or pulled.” Read more
The US House of Representatives will be in recess for the month of August, but the Senate still has a week of business to address two crypto bills before breaking. Representative Tom Emmer, the sponsor of the US House’s Anti-CBDC Surveillance State Act, said the bill, if passed, would significantly limit the Federal Reserve’s ability to issue a central bank digital currency. In a Friday press call, the Minnesota representative spoke on the progress of the Anti-CBDC bill, which he introduced in the House in March. “If [the Fed] could emulate cash, then the law is going to afford them that ability, but right now, they can’t,” said Emmer on the US government issuing a CBDC. Read more