From Morningstar:

The U.S. Securities and Exchange Commission (SEC) has clarified its position on Bitcoin exchange-traded funds (ETFs) after an unauthorized tweet claimed the approval of ETFs linked to Bitcoin. The Chair, Gary Gensler, confirmed that the tweet was false and not made by the SEC. The SEC has yet to approve any spot bitcoin ETFs.

Bitcoin’s price briefly rose over 2% before falling back after the unauthorized tweet. The cryptocurrency is down 2.4% over the past 24 hours to around $45,840. Cryptocurrencies were among some of the best-performing ETFs across 2023, according to Morningstar analysis.

The SEC is expected to approve a spot bitcoin ETF soon, with a January 10 deadline approaching. Both BlackRock and Ark Investment Management announced fee cuts for their Bitcoin ETF proposals.

The SEC had approved a bitcoin futures ETF in late 2021 but has yet to approve any ETFs directly investing in cryptocurrency.

A judge previously ruled that the SEC’s denial of a bitcoin spot ETF application was “arbitrary and capricious,” as prices in the bitcoin futures market closely tracked those in the spot market. The judge argued that the SEC’s actions violated federal administrative law.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, warned investors to be cautious of crypto scams and “pump and dump” schemes. She emphasized the importance of proceeding with caution when speculating in crypto and using money that can be afforded to lose.



Read more: SEC Forced to Clarify Bitcoin ETF Rules After…