The United States Securities and Exchange Commission (SEC) has announced that it is collaborating with the Federal Bureau of Investigation (FBI) to investigate an unauthorized tweet from its X (formerly Twitter) account on January 9. The tweet falsely claimed that the SEC had approved spot Bitcoin exchange-traded funds (ETFs) in the United States. SEC Chair Gary Gensler stated that the official SEC account was "compromised" by an unnamed party, and the investigation will be conducted in coordination with the FBI and the commission's Office of the Inspector General. The SEC emphasized that any official filings regarding the approval of a rule change for a spot Bitcoin ETF would be posted on its website.


Key Points:

  • Unauthorized Tweet: The SEC confirmed that the tweet on January 9, claiming the approval of spot Bitcoin ETFs, was unauthorized and not created by SEC officials. The commission clarified that it did not endorse or approve Bitcoin itself, but only the exchange-traded products.

  • Coordination with the FBI: The SEC is collaborating with the FBI and its Office of the Inspector General to investigate the unauthorized tweet. This coordinated effort reflects the seriousness with which the regulatory body is treating the incident.

  • Official Filing Warning: The SEC warned the public that any official filing regarding the approval of a rule change for spot Bitcoin ETFs would be posted on its website. The commission later published the relevant filing following the investigation.

  • Spot Bitcoin ETF Approvals: The SEC approved several spot Bitcoin ETF offerings, allowing them to be listed on U.S. exchanges. The approved offerings included products from ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton.

  • Gensler's Statement: After the approval, SEC Chair Gary Gensler released a statement clarifying that the commission did not approve or endorse Bitcoin itself but only the exchange-traded products.

Conclusion: The investigation into the unauthorized tweet about the approval of spot Bitcoin ETFs by the SEC reflects the significance of maintaining accurate and official communication channels. The collaboration with the FBI indicates a commitment to addressing potential security breaches. The SEC's emphasis on official filings and the subsequent approval of spot Bitcoin ETFs highlight the regulatory developments in the cryptocurrency space, with increased attention on exchange-traded products.


(TURNER WRIGHT, COINTELEGRAPH, 2023)