Complete Confusion About Bitcoin ETF Approval – E24

Complete Confusion About Bitcoin ETF Approval – E24

Bitcoin ETFs have been approved, the US financial watchdog wrote on X. The CEO refutes this – on the same platform.

Published:

First, there was a message on X (formerly Twitter) from the US Financial Regulatory Commission (SEC) that the much-talked about ETFs had now been approved.

Shortly after, SEC Chairman Gary Gensler signed on X The message is unauthorized.

– The SEC's Twitter account was hacked and an unauthorized tweet was posted. The SEC has not approved Bitcoin spot products, Gensler wrote.

FALSE: This approval was quickly refuted by SEC Chairman Gary Gensler.  But not before the price of Bitcoin skyrocketed.

Shortly after the first announcement, the price of one bitcoin rose from US$46,700 to US$47,600, roughly half a million kroner.

Immediately after Gensler refused approval, the value amounted to $45,500.

Bitcoin ETF ApprovalfinancefinanceAn exchange-traded fund (ETF) is a collection of securities. ETFs are traded in the same way as stocks. It will make it possible to trade products that track the value of Bitcoin on the exchange.

If these applications to the US Financial Supervision Commission (SEC) are approved, it will be possible to purchase cryptocurrencies via funds, and one will no longer need to own the cryptocurrency directly.

Bloomberg previously wrote that it expects the first set of these services to receive approval during January.

Bitcoin rose sharply in 2023, rising 174 percent last year.

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Hanisi Anenih

Hanisi Anenih

"Web specialist. Lifelong zombie maven. Coffee ninja. Hipster-friendly analyst."

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