SEC says no bitcoin ETF approval after hack
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The U.S. Securities and Exchange Commission (SEC) announced on Tuesday that it has not approved any spot bitcoin exchange-traded funds (ETFs). This statement came after the SEC's social media account on the X platform was hijacked, leading to the spread of false information. The unauthorized post claimed that the SEC had green-lighted bitcoin ETFs on all registered national securities exchanges, citing SEC Chairman Gary Gensler. The SEC, which is expected to approve a series of bitcoin-tracking ETFs on Wednesday, quickly addressed the misinformation. The fake announcement garnered a lot of attention, with at least 1 million views, before it was deleted less than 20 minutes later. In response to the event, the bitcoin price briefly rose to around $48,000, but soon fell below $45,000. After the SEC corrected the filing, the cryptocurrency was trading at $45,513, down 3.15%. The SEC did not comment on whether an investigation into the security breach had been launched or on the potential impact of the incident on future ETF approvals. Historically, the SEC has rejected all proposals for spot bitcoin ETFs due to concerns about market manipulation
