SEC says it did not yet approve Bitcoin ETF, X account was compromised

The U.S. Securities and Exchange Commission said Tuesday afternoon that an announcement about bitcoin exchange-traded funds on social media was incorrect.

“The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told CNBC.

The false social media post said the SEC had approved bitcoin ETFs for trading. The price of bitcoin briefly spiked after the initial post, but then quickly slid below $46,000.

In a later statement Tuesday evening, an SEC spokesperson told CNBC that the agency determined that there had been unauthorized access to the regulator’s X account “by an unknown party” for a brief period just after 4 p.m. ET.

“The SEC will work with law enforcement and our partners across government to investigate the matter and determine appropriate next steps relating to both the unauthorized access and any related misconduct,” this spokesperson said.

The SEC is expected to make a decision on bitcoin ETFs this week after opposing them for years. More than a dozen asset managers have filed applications to create such a fund, including many that filed updated registration statements Tuesday morning.