Forex Top Team

U.S. SEC Has Not Approved Bitcoin ETF, Investigating False Announcement on “X”

On the 9th, the U.S. Securities and Exchange Commission (SEC) announced that it has not yet approved the physically-backed exchange-traded fund (ETF) linked to the cryptocurrency Bitcoin. They pointed out that someone fraudulently accessed the account of short-form posting site “X” (formerly Twitter) and posted a false message claiming approval.

The SEC reported that they experienced unauthorized access for a brief period after 4 PM Eastern Time but promptly blocked it. They explained that they are cooperating with authorities to investigate this matter.

“X” confirmed that the SEC’s account had been fraudulently accessed and attributed it to someone controlling the phone number associated with the same account through a third party.

It was also noted that the SEC had not enabled two-factor authentication at the time of the unauthorized access. Preliminary investigations suggest that the intrusion into “X” systems did not cause this incident.

The fraudulent posts on “X” claimed that the SEC had approved Bitcoin ETFs for all SEC-registered exchanges, including fake comments attributed to Chairman Gensler.

(Source: Reuters)

The impact of this false information on the market is uncertain, but it is anticipated that the SEC will approve several Bitcoin physically-backed ETFs that multiple issuers have applied for today, the 10th. There is potential for significant market movement centered around cryptocurrencies in the coming U.S. session.