SEC Twitter/X gets hacked, saying all Bitcoin ETFs are approved

Chair Gary Gensler clarified on Twitter that the U.S. Securities and Exchange Committee's official account was hacked, following a misleading tweet about the approval of spot Bitcoin ETFs. He stated, “The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”

The financial world has been eagerly anticipating the SEC's decision on spot Bitcoin ETFs, a development that would allow American investors to trade this popular cryptocurrency as shares on major stock exchanges. Despite expectations for an approval announcement at Wednesday's market close, a surprise tweet from the SEC's official account erroneously signaled its approval.

However, Gary Gensler promptly issued a correction on Twitter, emphasizing that the SEC had not yet approved the listing and trading of these much-awaited products.

This incident adds to the ongoing drama surrounding the SEC's historical resistance to sanctioning such investment vehicles, often citing risks of market manipulation. The situation shifted following a significant win in August by Grayscale, a potential issuer for the Bitcoin ETF, in its lawsuit against the SEC. Since then, the agency has been reconsidering applications, now involving major firms like BlackRock.