Bitcoin ETF Approval Rumors Proven False, SEC Chairman Blames Hacking

Reports on September 9 (local time) that the U.S. Securities and Exchange Commission (SEC) had approved Bitcoin’s spot exchange-traded fund (ETF) turned out to be fake news caused by hacking.

Major global news agencies reported this as breaking news, citing the SEC’s social media account X (formerly Twitter), stating that the SEC had approved Bitcoin ETF.

Following the report, Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), promptly made a clarification. He stated that the SEC’s X account had been compromised due to a hack and emphasized that the SEC had not approved a Bitcoin spot ETF.

As a result, Bitcoin plummeted more than 3% to $45,450.

However, as the shock subsided, the fall was reduced to around 2%, recovering to $46,000.

The day before, Bitcoin had broken through $47,000 in anticipation of the imminent approval of the spot ETF. The SEC is expected to decide on the approval of the spot ETF this week.

By. Kwang Choon Park