The key issue for Bitcoin investors this week revolves around the SEC, also known as the U.S. Securities and Exchange Commission, considering the approval of a new product called Bitcoin ETF. This product would allow for trading on the general securities market. However, unexpected events unfolded.
Previously, the SEC’s X account on Twitter (@SECGov) posted a message approving the establishment of an ETF fund based on Bitcoin. But after just 30 minutes, the post was deleted. Gary Gensler, the chairman of the SEC, then posted on X, stating that the SEC’s account was hacked and false messages were posted. He clarified that the SEC has not yet approved the issuance of a Bitcoin ETF.
Later, the SEC’s official account posted a similar statement to address the situation.
As a result of these events, the price of Bitcoin surged to $48,000 per BTC and then settled around $45,500 after the SEC’s clarification.
TLDR: Bitcoin investors were eagerly awaiting the SEC’s decision on approving a Bitcoin ETF. However, a series of unexpected events including a hacked SEC account led to confusion and a fluctuation in Bitcoin’s price. The SEC later clarified that they had not approved a Bitcoin ETF.
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