The crypto community is abuzz with the recent approval of spot Bitcoin exchange-traded funds (ETFs), a move that many have hailed as “historic”. The approval has led to a surge in activity on social media platform X, 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. 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 platform. The SEC’s X account, @SECGov, has not posted anything since confirming that its account was compromised on Jan. 9, following a mishandled tweet about Bitcoin ETF approvals. Despite this, the crypto community on X has continued to tag @SECGov in a multitude of posts, discussing the approval process and criticizing the regulator for its handling of the account’s security.
The SEC’s announcement about the account hack has become the most-liked post in the account’s history on X, garnering over 18,000 likes and 8.1 million impressions. Meanwhile, other major players have capitalized on the ETF approval news. Franklin Templeton, one of the issuers whose ETF was approved, updated its X logo with a pair of laser eyes, a symbol used by Bitcoin advocates to show their support for the asset.
Bloomberg ETF analyst James Seyffart has predicted that the ETFs will be live for trading as early 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 |
