SEC Has Not Yet Approved Bitcoin Spot ETFs Despite Agency Tweet

The Securities and Exchange Commission (SEC) announced on Tuesday that it has approved for Bitcoin ETFs to be listed on all national securities exchanges in the United States.

However, a later post from SEC chairman Gary Gensler clarified that the announcement was fake.

• In an SEC post to X, the agency claimed that approvals had gone through and that they would “enhance market transparency and provide investors with efficient access to digital assets within a regulated framework.”
• Following the announcement, the price of Bitcoin immediately shot up to a new multi-year high of $47,800, followed by a descent to nearly $46,000.
• However, SEC chairman Gary Gensler took to X immediately afterward to debunk the news.

• “The SEC twitter account was compromised, and an unauthorized tweet was posted,” he said. “The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”

• Back in October, a fake rumor from a major crypto media website also falsely claimed that a Bitcoin ETF had been approved.
• The following month, XRP dumped on another revelation of a fake BlackRock XRP ETF filing posted to the state of Delaware’s website.
• “I think someone prepped a planned tweet and put the wrong date because the tweet would have made perfect sense tomorrow at this time,” commented Bloomberg ETF analyst Eric Balchunas on the matter.