Why Bitcoin, Ethereum, and Marathon Digital Jumped Today
The SEC could approve the world's first spot Bitcoin ETF later this week.
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The SEC could approve the world's first spot Bitcoin ETF later this week.
The post set off a panic in the crypto market.
SEC Chair Gary Gensler said that a message on X claiming the regulator had granted approvals for bitcoin ETFs was "unauthorized" and inaccurate.
The price of bitcoin briefly spiked more than $1,000 after the post on X, formerly known as Twitter, claimed “The SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.” Gensler called the post unauthorized without providing further explanation. The price of bitcoin swung from about $46,730 to just below $48,000 after the unauthorized post hit, and then dropped to around $45,200 after the SEC's denial.
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