2024-01-10 10:03:56
A false message published on the social network Tuesday, January 9. Quickly deleted, this post announced that the regulator had authorized the highly anticipated marketing of a new bitcoin investment product, called ETF (Exchange Traded Fund).
These ETFs, similar to stocks representing a percentage of ownership of a bitcoin fund, are currently prohibited in the United States, but they might be approved soon. Their implementation should logically lead to a strong influx of investments in the main cryptocurrency, and therefore an increase in the price.
Minutes following the publication of the message announcing the authorization of these bitcoin ETFs, SEC Chairman Gary Gensler warned on ” compromise “ and that one “unauthorized tweet” had been published there. In the meantime, the price of bitcoin had risen to $47,914, the highest in more than twenty-two months, before falling by $6,000 a few minutes later.
X announced having opened an investigation into this hackingand claimed that this was made possible in particular because the SEC account had not activated double authentication, a basic and effective protection system, the use of which is very strongly recommended.
Decision imminent
The market has been speculating for several weeks regarding the approval of ETFs, a new product which would offer investors, for the first time, an investment replicating the performance of bitcoin without them having to directly hold cryptocurrencies.
The SEC has repeatedly rejected marketing applications for similar products in the past, but a recent development changed the situation: at the end of October, a federal appeals court in Washington ruled confirmed that the SEC was not justified in denying approval to asset manager Grayscale for its bitcoin ETF.
A new decision from the SEC on ETFs is expected imminently, because the Wall Street watchdog has until Wednesday inclusive to rule on the oldest validation request currently under investigation, that of the investment company 21Shares.
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