The official U.S. Securities and Exchange Commission Twitter account was apparently “compromised” Tuesday when it tweeted that the long awaited Bitcoin ETF had been approved. The tweet caused the price of BTC to briefly spike, before settling back down.

For a brief moment, Bitcoin shot as high as $47,680.10 before retracing those gains. But it didn’t stop there. It’s since plunged further to $45,627.92, according to CoinGecko.

It was SEC Chair Gary Gensler who, minutes after the erroneous SEC tweet went out from the main account at 4:11 p.m. EST, debunked the news with his own tweet.

“The SEC has not approved the listing and trading of spot bitcoin exchange-traded products,” Gensler said on Tuesday afternoon.

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Author: Stacy Elliott

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