The crypto community is abuzz with the recent approval of spot Bitcoin exchange-traded funds (ETFs), a move hailed as “historic” by many. The news has led to a surge in activity on social media platforms, with the hashtag #BitcoinETF trending and the search term “Bitcoin ETF” reaching a maximum score of 100 on Google Trends.
Eleven issuers have received their approvals to list and trade their Bitcoin ETFs on United States exchanges, marking a significant milestone for the crypto industry. Coinbase chief legal officer Paul Grewal and SEC Commissioner Hester Pierce have both acknowledged the significance of this development, with Grewal noting that Grayscale’s pushback against the SEC was instrumental in securing the ETF approvals.
However, amidst the celebrations, the United States Securities and Exchange Commission (SEC) has remained notably silent on the matter. The @SECGov account, owned by the SEC, has not posted anything since confirming that its account was compromised on Jan. 9, following a mishandled tweet about Bitcoin ETF approvals. The SEC’s last public message stated, “The @SECGov account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”
Despite the SEC’s silence, crypto enthusiasts have continued to tag @SECGov in a flurry of posts, discussing the approval process and criticizing the regulator for its handling of the account’s security. The SEC’s post about its account hack has become the most-liked post in the account’s history, garnering more than 18,000 likes and 8.1 million impressions.
Meanwhile, Franklin Templeton, one of the ETF issuers, capitalized on the announcement by updating its logo with a pair of laser eyes, a symbol used by Bitcoin advocates to demonstrate an ideological alignment with the asset. Bloomberg ETF analyst James Seyffart has predicted that the ETFs will be live for trading as soon as Jan. 11.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | James Seyffart, Paul Grewal, Hester Pierce |
| Companies | Bloomberg, United States Securities and Exchange Commission, Grayscale, Franklin Templeton, Coinbase |
| Currencies | Bitcoin |
| Securities | None |
