The United States Securities and Exchange Commission (SEC) is expected to proceed with a decision on spot Bitcoin exchange-traded funds this week, despite a recent hack of its social media account. The SEC’s X account was compromised on Jan. 9, with an unknown party using the account to falsely announce that spot Bitcoin ETFs were approved in the United States. The message was quickly deleted, but not before causing a stir on social media and the markets.
While some worry that this incident could be used as a reason to delay the decision past the anticipated Jan. 10 deadline, most see this as a remote possibility. Dennis Porter, CEO of Satoshi Action Fund, stated that if the SEC is looking for ways to delay the ETF process, they could potentially use this incident as a reason. However, Porter’s contacts suggest that the SEC will still approve the spot Bitcoin ETF applicants on Jan. 10.
U.S. attorney and commercial litigator Joe Carlasare also believes that the SEC will still make a decision by the Jan. 10 deadline, despite the incident. However, Mati Greenspan of cryptocurrency-focused finance firm Quantum Economics suggests that the SEC could use the false post to suit a delay agenda.
Bloomberg ETF analyst Eric Balchunas anticipates official approval of the spot Bitcoin ETFs sometime between 4:00 pm to 5:00 pm Eastern Time (9:00 pm to 10:00 pm UTC) on Jan. 10. Meanwhile, digital asset lawyer Anthony Tu-Sekine of Seward and Kissel told The New York Post that he didn’t believe the incident would change the likelihood of approvals at this late stage. Tu-Sekine expressed confusion as to why someone would make such a false post when the approval was already widely anticipated.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Joe Carlasare, Mati Greenspan, Anthony Tu-Sekine, Dennis Porter, Eric Balchunas |
| Companies | Seward and Kissel, Bloomberg, The New York Post, Cointelegraph, United States Securities and Exchange Commission, Quantum Economics, Satoshi Action Fund |
| Currencies | Bitcoin |
| Securities | None |
