The price of bitcoin experienced a decline during late afternoon trading on Tuesday following a misleading social media post from the X account of the Securities and Exchange Commission. The post falsely claimed that the agency had granted approval for bitcoin exchange-traded funds (ETFs) to be traded.
After realizing the compromise, the SEC promptly removed the post and clarified that the ETFs had not been approved.
Initially, bitcoin surged to a high of $47,901, reaching its highest level since March 2022, as reported by Coin Metrics. However, it later dropped and was trading 3% lower at $45,575.60.
Investors had been anticipating an update from the Securities and Exchange Commission, with some hoping for an early decision. The SEC’s deadline to either approve or deny the application for the Ark 21 Shares spot bitcoin ETF is set for Wednesday. Many believe that the agency will approve multiple ETFs simultaneously.
Source (CNBC)
