Historic Bitcoin ETF Approval Celebrated, Silent SEC Account Stands Out Amidst Cheer
Summary:
Cryptocurrency enthusiasts are celebrating the approval of spot Bitcoin ETFs on U.S. exchanges—a move lauded as historic and vital to the growth of the crypto sector. The official Twitter account for the U.S. Securities and Exchange Commission remained silent following the news, despite its usual activity. In contrast, popular issuers like Franklin Templeton took to social media to express their support for Bitcoin. The ETFs are expected to start trading as early as January 11th.
Celebrations are rampant among cryptocurrency enthusiasts as the much-awaited approval of spot Bitcoin exchange-traded funds (ETFs) was made public on January 10th. However, the festive event seemed to have one silence observer: a popular user on X platform who is known for their regular posts. The crypto community on the X platform has been buzzing, with the hashtag #BitcoinETF making waves and the phrase “Bitcoin ETF” ranking high on Google Trends.
Regarded as a monumental day, the approval enables 11 issuers to list and trade their Bitcoin ETFs on various exchanges in the United States. According to Paul Grewal, the Chief Legal Officer of Coinbase, this achievement was nearly a miss, adding that the struggle by Grayscale against the SEC played an instrumental role in ensuring the approval of the ETFs. Prominent figures including SEC Commissioner, Hester Pierce, also mirrored this sentiment.
Moving ironically in contrast to the celebratory atmosphere, the account @SECGov, which belongs to the U.S. Securities and Exchange Commission, has remained quiet since it reported a breach on its platform on January 9th. This silence came after a confused tweet about the Bitcoin ETF approvals. The compromised account became the most liked post on the account, garnering over 18K likes and a staggering 8.1 million impressions.
In the grand scheme of things, many prominent users including one of the ETF issuers seized this moment to grab some attention. Franklin Templeton, a greenlit ETF issuer, humorously updated its X account with a profile picture of laser eyes, an emblazoned symbol of Bitcoin support. According to Bloomberg ETF analyst, James Seyffart, the ETFs could see live trading as early as January 11th.
Published At
1/11/2024 5:49:25 AM
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