The United States Securities and Exchange Commission (SEC) has not yet given approval for a spot Bitcoin (BTC) exchange-traded fund (ETF). 

On Jan. 9, the regulator said its X (formerly Twitter) account was compromised, leading to a false tweet suggesting that Bitcoin ETFs had been approved in the United States. The offending tweet was up for approximately 20 minutes before being taken down.

Various news outlets — including Cointelegraph, Blockworks and Reuters — initially reported on the tweet from the SEC. SEC Chair Gary Gensler tweeted 15 minutes later, revealing that the SEC’s account had been compromised.

The incident caused the price of Bitcoin to surge roughly 2.5% to $47,901 before dropping roughly 7% to $44,701. Meanwhile, crypto X is continuing to speculate what this could mean for the SEC and anticipated Bitcoin ETF approvals.

Here’s a wrap-up of what has happened since:

SEC denies staff caused “unauthorized” post, but others skeptical

The regulator told Cointelegraph that its staff did not have any involvement in posting the “unauthorized” tweet.

“The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff.”

However, some community members don’t believe that and think it was simply a premature announcement — likely drafted and then sent out by mistake. They have tied this theory to the wording and construction of the post, which uses similar language that the SEC is known for.

Cointelegraph

Cointelegraph

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