As crypto proponents go into a celebration frenzy over the "historic" approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) on Jan. 10, there’s one X user who has been radio silent on the platform.
Over the past day, tens of thousands of crypto X users have flooded the platform, celebrating the approval of spot Bitcoin ETFs. The hashtag #BitcoinETF is trending on X, while the search term “Bitcoin ETF” reached a maximum score of 100 on Google Trends.
Many crypto X users have described the day as "historic" — a total of 11 issuers received their approvals to list and trade their Bitcoin ETFs on United States exchanges.
“This is a big deal. But keep in mind it almost didn’t happen,” wrote Coinbase chief legal officer Paul Grewal, adding that Grayscale’s pushback against the SEC was key in getting the ETF approvals over the line. SEC Commissioner Hester Pierce offered similar sentiments in her official statement on the matter as well.
This is a big deal. But keep in mind this almost didn’t happen. 1/3 https://t.co/ldVkLgTcqr
— paulgrewal.eth (@iampaulgrewal) January 10, 2024
But one party has been pretty silent on the matter, despite being a regular poster on X.
The X account @SECGov, owned by the United States Securities and Exchange Commission, hasn’t posted anything since confirming its account was compromised on Jan. 9 — which came after a "bungled" tweet about Bitcoin ETF approvals.
“The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products,” read the contents of its last public message on Tuesday.
However, this hasn’t stopped Crypto X from tagging @SECGov in a tidal wave of posts, ranging from posts concerning the more intricate details of the approval process to lashing the regulator for its “glaring incompetence” in handling the security of its account.
Related: SEC says it’s coordinating with FBI to investigate ‘compromised’ ETF tweet
The SEC’s post about its account hack now stands as the most-liked post in the account’s history on X — racking up more than 18,000 likes and 8.1 million impressions.
The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.
— U.S. Securities and Exchange Commission (@SECGov) January 9, 2024
Other big names — including one of the ETF issuers themselves — took the opportunity to generate some traction on the back of the announcement.
The official X account for Franklin Templeton — an issuer that had its ETF approved today — updated its logo with a pair of laser eyes — a symbol used by Bitcoin advocates on social media to demonstrate an ideological alignment with the asset.
#NewProfilePic pic.twitter.com/OZTfkehgUa
— Franklin Templeton (@FTI_US) January 10, 2024
Bloomberg ETF analyst James Seyffart said it’s likely the ETFs will be live for trading as soon as Jan. 11.
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