The Securities and Exchange Commission says a post on X from Chairman Gary Gensler, announcing the approval of Bitcoin ETFs, was false.
The update, which came shortly after 4pm ET when the markets were closed, was likely the work of a hacker, according to the SEC. The post has since been deactivated and replaced with more details.
"The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products" the post clarified.
The dupe came as investors are eagerly awaiting the SEC's decision on as many as 10 Bitcoin ETF applications including BlackRock's, Ark's, Grayscale and Wisdom Tree.
In advance of the SEC's widely anticipated decision, bitcoin rose to the $47,000 level before pulling back and has gained nearly 11% this year after advancing 153% in 2023.
Regulators are expected to approve potentially one or several of the pending ETF applications which will open up cryptocurrencies to a wider group of individual and instutional investors.
