ETF Financial News

The Securities and Exchange Commission (SEC) has found itself in hot water after  an unauthorized tweet on its official account  suggested that spot Bitcoin exchange-traded funds (ETFs) had been approved. 

The posting, which has since been deleted, pre-empted an imminent announcement from the SEC about whether it will approve the trading of spot bitcoin ETFs. The fake post featured a photo of SEC chair Gary Gensler and a convincing quote: "Today's approval enhances market transparency and provides investos with efficient access to digital asset invesments within a regulated framework."Within fifteen minutes of the post going live on X, Gensler hastily took to the platform to deny that any such approval had been given.

While 13 Bitcoin spot ETFs await approval from the US SEC, the Chief Operating Officer of HashKey Group, Livio Weng, has revealed that about ten fund companies are currently preparing to launch Virtual Asset Spot Exchange-Traded Funds in Hong Kong.

Bitcoin dropped to around $45,000 before paring losses after a false post on the US Securities and Exchange Commission’s X account claimed that the agency had approved the issuance of ETFs holding the digital asset. 

gold ETFs, silver ETFs, and exchange-traded commodity derivatives. The combination of asset classes has provided better investment experience over the years and the fund aims to capture the business cycle benefits of different assets over a period.

cryptocurrency Bitcoin (BTC) declined 2% to $45,945 on Wednesday after the US Securities and Exchange Commission (SEC) said that a post on X claiming a spot Bitcoin exchange-traded funds was approved was not authorised by the agency. «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 U.S. Securities and Exchange Commission said on X. At 10:43 a.m., bluechip crypto tokens BTC was trading 1.8% lower at $45,945, while Ethereum was up 2.8% at $2,377. Whereas altcoins, such as Avalanche, Solana, and Cardano, fell 3-8%. Bitcoin surged beyond the $47,000 threshold on Monday, reaching its highest point since March 2022. However, it couldn't maintain that position, experiencing spikes and dips in the past 24 hours following the approval of fake SEC spot Bitcoin ETFs, said Edul Patel, CEO of Mudrex.

Wealth Redefine. In an interview with LiveMint, Sarkar said that disciplined asset allocation safeguards investments by promoting a well-calibrated response to market dynamics. New-age investors are showing increased enthusiasm for aggressive equity investments, yet the key focus should always be on prudent asset allocation.

The official X account of the U.S. Securities and Exchange Commission (SEC) was compromised when it posted the fake spot Bitcoin ETF approval announcement, X has confirmed.

As the cryptocurrency world eagerly awaits the U.S. Securities and Exchange Commission’s (SEC) decision on Bitcoin ETFs, the market is abuzz with speculation and activity. Bitcoin price has consistently held strong above the $47,000 mark, drawing strength from the growing optimism surrounding the approval of Bitcoin ETFs.

By Ankur Banerjee

The Financial Industry Regulatory Authority Inc. on Tuesday issued its annual roundup of concerns related to the retail wealth management industry, and in an update, the securities industry self-regulator said it was adding developments in “crypto assets” to its laundry list of major concerns for the brokerage industry.

The recent surge in Bitcoin (BTC) prices has prompted a revision of projections for 2024.

The SEC has not approved Bitcoin ETFs, as reported earlier on the SEC's official X account. SEC Chairman Gary Gensler said the account was «compromised.»

After-Hours Stock Movers:

The frenzy over the prospect of the Securities and Exchange Commission approving the first bitcoin ETFs reached new levels Tuesday when the regulator’s X account sent out a tweet saying it had granted approval, only for chair Gary Gensler to reveal five minutes later that the account had been compromised.

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El Salvador’s Bitcoin (BTC) portfolio of 2,798 tokens has yielded an unrealized profit of $12.6 million, and there are no plans to sell.

Bitcoin (BTC) just flashed an ultra-bullish technical indicator called the “golden cross” for the first time ever on its weekly price chart.

The Securities and Exchange Commission (SEC) chairman, Gary Gensler, is stirring feathers in the crypto space with his latest online post.

CoinDCX is offering a 1% bonus to all investors who wish to shift their holdings to the platform in a bid to capitalise on the government’s crackdown on offshore crypto trading platforms. CoinDCX has earmarked $1 million as incentives for investors looking to withdraw from offshore crypto exchanges, with a cap of Rs 10,000 per person. Through this initiative, the exchange expects a 500% surge in fresh inflows, contributing to an overall 10,000% increase in cryptocurrency deposits, Minal Thakur, EVP, Growth & Strategy at CoinDCX told ET. “In alignment with our unwavering commitment to the community, we have dedicated $1 million to incentivise users transitioning to CoinDCX,” Thakur said.

VanEck has committed $72.5 million in seed capital for its ETF. Bitwise has allocated $500,000. These figures come from S-1 documents filed with the U.S. Securities and Exchange Commission (SEC).