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Bitcoin Spikes After Message SEC’s Gensler Called ‘Unauthorized’

In Business
January 10, 2024

Bitcoin briefly jumped to near $48,000 after a message posted on the Securities and Exchange Commission’s account on X said the agency had approved the listing of exchange-traded funds that hold the cryptocurrency.

The message later appeared to have been deleted. SEC Chairman Gary Gensler and the SEC both said on the social network that it was “unauthorized” and the agency “has not approved the listing and trading of spot bitcoin exchange-traded products.”

Bitcoin traded a bit below $45,600 at 5 p.m. ET, down 3.3% from its late-Monday level.

An SEC decision is expected tomorrow.

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