Bitcoin and crypto holders are currently flummoxed/sceptical after an apparent official tweet from the SEC appeared to confirm the approval of spot Bitcoin ETFs in the US, only to be told it was fake news.

Our headline says it all, really. Jeez… only in crypto?

Here was the tweet, now deleted by the US Securities and Exchange Commission (via crypto commentator/YouTuber Lark Davis)…

And here is SEC chair Gary “Fun Police Commissioner” Gensler’s last response on the matter…

Yeeeeahhh… the crypto community and others meanwhile aren’t convinced…

And how’s this one from famed US whistleblower and naturalised Russian citizen Edward Snowden…

 

Unfortunately the news was quickly spread far and wide this morning by various news mainstream and crypto-specific outlets, including Reuters, Cointelegraph and Blockworks, with Reuters releasing its report before Gensler’s statement.

Meanwhile the cryptoverse seems amazed/sceptical that the SEC was able to gain control of its supposed compromised X account so quickly – with another SEC tweet and Gensler’s tweet coming within about 15 minutes after.

The US regulator has yet to provide any details about how exactly its social account was compromised.

Spot Bitcoin ETFs in the US have been widely expected to receive reluctant approval from the SEC this week, with the final deadline for a decision set for January 10 in the US.

Currently, the price of Bitcoin seems more volatile than an arvo of shirtless boozing and pill popping at Summernats.

This morning, BTC spiked as high as US$47,700 on the fake news, before tanking to about US$45,400 – roughly from where it’s looking to stage a recovery as we type.

Ah well, at least it allows investment titans to quickly grab a few more BTC at slashed prices, eh?

Read more about the impending (possible) spot Bitcoin ETFs, including BlackRock’s involvement, here.

Meanwhile, a couple of takes from Bloomberg’s ETF analyst Eric Balchunas: