The U.S. Securities and Exchange Commission (SEC) has been considering the approval of Bitcoin exchange-traded funds (ETFs) for some time now. However, today, a fake message was posted on the SEC’s X social media account, claiming that the SEC had approved ETFs for Bitcoin.
This news caused a stir in the crypto industry, with Bitcoin-related stocks experiencing volatility.
The SEC later confirmed that its account had been hacked and that the ETFs had not been approved.
I would not be surprised to see Bitcoin continue enduring selling pressure overnight, especially now that a sell-the-news reaction occurred on the fake tweet.
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SEC Bitcoin ETF approval spurs volatility among crypto-related names in after-hours trading today
The U.S. Securities and Exchange Commission (SEC) has been considering the approval of Bitcoin exchange-traded funds (ETFs) for some time now. However, today, a fake message was posted on the SEC’s X social media account, claiming that the SEC had approved ETFs for Bitcoin.
I would not be surprised to see Bitcoin continue enduring selling pressure overnight, especially now that a sell-the-news reaction occurred on the fake tweet.