The US Securities and Exchange Commission (SEC) has yet to grant approval to Bitcoin spot ETFs.
Gary Gensler, chairman of the Securities and Exchange Commission, has debunked rumors about the approval of Bitcoin ETFs in the country, claiming that the SEC account on Social Network X (formerly Twitter) has been compromised.
Just minutes ago, Gensler shared a message indicating that Bitcoin ETFs have not yet received regulatory approval and that the tweet posted from the SEC's official account was unauthorized.
“The SEC Twitter account was compromised and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”Gensler said.
In the afternoon, the SEC's official account announced that Bitcoin exchange-traded funds had been approved for trading on regulated U.S. stock exchanges and that these investment instruments would be available under strict monitoring and compliance measures to ensure investor protection. However, a few minutes later, Gensler indicated that the account had been compromised.
At the time of writing, the tweet announcing the supposed approval of Bitcoin ETFs in the United States had not been deleted and was still available from the regulator's official account on the social network.
The crypto community has taken this as an act of trolling, somewhat offensive, by the regulators, since the message, which turned out to be false, was published a day before the deadline for the regulator to announce its decision on Bitcoin ETFs.
On the other hand, Walker America, host of The Bitcoin Podcast, questioned the SEC's ability to “protect investors” from the risks posed by Bitcoin and cryptocurrencies, when he can't even protect his own Twitter account, I ask.
Other users went further and questioned whether it was actually Gary Gensler's account on X that had been compromised.
Meanwhile, the price of Bitcoin was boosted to close to $48.000 when the news of the supposed approval of ETFs was published, falling later after Gensler denied the approval of these investment instruments.
Source: CoinMarketCap
As seen on CoinMarketCap's price chart, Bitcoin was trading at around $47.900 this afternoon. However, its price has fallen by more than 3% at the time of writing.
Asset managers seeking SEC approval to launch a Bitcoin spot ETF in the US market have today stepped up the fee war to offer the most attractive products to investors, should they receive SEC approval.
Continue reading: Bitcoin ETFs begin operating fee battle
